SunTrust Banks Reiterates $10.00 Price Target for Express (EXPR)

SunTrust Banks set a $10.00 price target on Express (NYSE:EXPR) in a report issued on Friday. The brokerage currently has a hold rating on the stock. SunTrust Banks also issued estimates for Express’ Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $0.49 EPS and FY2019 earnings at $0.63 EPS.

Several other research firms have also weighed in on EXPR. BMO Capital Markets set a $7.00 target price on shares of Express and gave the company a hold rating in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Express from a sell rating to a hold rating in a report on Tuesday, August 15th. BidaskClub lowered shares of Express from a sell rating to a strong sell rating in a report on Thursday, October 12th. B. Riley reaffirmed a neutral rating on shares of Express in a report on Wednesday, November 1st. Finally, TheStreet raised shares of Express from a d+ rating to a c- rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $8.85.

Express (EXPR) traded up $0.40 on Friday, reaching $10.14. 4,880,300 shares of the company’s stock were exchanged, compared to its average volume of 2,352,338. Express has a 12 month low of $5.28 and a 12 month high of $12.40. The stock has a market cap of $831.36, a price-to-earnings ratio of 32.71 and a beta of 1.55.

Express (NYSE:EXPR) last posted its quarterly earnings results on Thursday, November 30th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Express had a net margin of 0.60% and a return on equity of 3.85%. The company had revenue of $498.70 million during the quarter, compared to analyst estimates of $487.38 million. During the same period last year, the firm posted $0.15 EPS. Express’s revenue for the quarter was down 1.5% compared to the same quarter last year. sell-side analysts forecast that Express will post 0.47 EPS for the current fiscal year.

Express announced that its Board of Directors has approved a stock repurchase program on Thursday, November 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of EXPR. State of Alaska Department of Revenue boosted its stake in Express by 77.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 15,361 shares of the company’s stock worth $103,000 after purchasing an additional 6,711 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Express during the 2nd quarter worth $114,000. Municipal Employees Retirement System of Michigan boosted its stake in Express by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock worth $125,000 after purchasing an additional 620 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Express by 29.5% during the 2nd 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 during the last quarter. Finally, Hartford Investment Management Co. boosted its stake in Express by 96.3% during the 2nd quarter. Hartford Investment Management Co. now owns 21,000 shares of the company’s stock worth $142,000 after purchasing an additional 10,300 shares during the last quarter. 98.61% of the stock is owned by institutional investors.

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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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