Express (EXPR) Rating Lowered to Sell at Zacks Investment Research

Express (NYSE:EXPR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, January 30th.

According to Zacks, “Express, Inc. is a specialty retailer of women’s and men’s apparel in the United States. The Company operates retail outlets in high-traffic shopping malls, lifestyle centers and street locations across the United States. It also sells its products through its e-commerce website, express.com. Express targets women and men between 20 and 30 years of age. The Company offers its customers an edited assortment of apparel and accessories to address fashion needs across multiple aspects of their lifestyles, including work, casual and going-out occasions. Express, Inc. is headquartered in Columbus, Ohio. “

EXPR has been the subject of a number of other reports. B. Riley increased their price target on Express from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, November 30th. BMO Capital Markets restated a “hold” rating and set a $7.00 price objective on shares of Express in a research report on Thursday, November 2nd. SunTrust Banks decreased their price objective on Express to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, January 10th. BidaskClub upgraded Express from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, TheStreet upgraded Express from a “d+” rating to a “c-” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.88.

Express (NYSE EXPR) traded up $0.27 during midday trading on Tuesday, hitting $7.14. The stock had a trading volume of 1,426,128 shares, compared to its average volume of 3,138,285. Express has a 1 year low of $5.28 and a 1 year high of $11.69. The company has a market capitalization of $542.99, a price-to-earnings ratio of 42.94 and a beta of 1.03.

Express (NYSE:EXPR) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Express had a return on equity of 3.85% and a net margin of 0.60%. The company had revenue of $498.70 million during the quarter, compared to analyst estimates of $487.38 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. research analysts forecast that Express will post 0.34 earnings per share for the current year.

Express announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 30th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. Alambic Investment Management L.P. bought a new position in Express in the fourth quarter worth approximately $147,000. Piedmont Investment Advisors LLC bought a new position in Express in the second quarter worth approximately $114,000. Public Employees Retirement System of Ohio grew its stake in Express by 29.5% in the second quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock worth $140,000 after purchasing an additional 4,722 shares in the last quarter. Gotham Asset Management LLC bought a new position in Express in the second quarter worth approximately $148,000. Finally, Acadian Asset Management LLC bought a new position in Express in the fourth quarter worth approximately $228,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.

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Express Company Profile

Express, Inc is a specialty apparel and accessories retailer offering both women’s and men’s merchandise. The Company targets women and men between 20 and 30 years old. It offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeanswear and going-out occasions.

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