Express (NYSE:EXPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $11.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 3.29% from the company’s current price.
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. “
Several other brokerages have also recently issued reports on EXPR. SunTrust Banks set a $10.00 target price on shares of Express and gave the company a “hold” rating in a report on Friday, December 1st. BMO Capital Markets set a $10.00 target price on shares of Express and gave the company a “hold” rating in a report on Friday, December 1st. B. Riley upped their target price on shares of Express from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 30th. TheStreet upgraded shares of Express from a “d+” rating to a “c-” rating in a report on Thursday, November 16th. Finally, BidaskClub upgraded shares of Express from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Express has an average rating of “Hold” and a consensus target price of $9.13.
Express (NYSE:EXPR) last issued its earnings results on Thursday, November 30th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Express had a net margin of 0.60% and a return on equity of 3.85%. The business had revenue of $498.70 million during the quarter, compared to analysts’ expectations of $487.38 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. research analysts forecast that Express will post 0.47 earnings per share for the current year.
Express announced that its board has approved a stock repurchase plan on Thursday, November 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. purchased a new stake in Express in the 2nd quarter valued at $33,597,000. State Street Corp raised its position in Express by 9.8% during the 2nd quarter. State Street Corp now owns 2,612,290 shares of the company’s stock worth $17,633,000 after buying an additional 233,124 shares during the last quarter. Neuberger Berman Group LLC raised its position in Express by 51.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,990,319 shares of the company’s stock worth $13,435,000 after buying an additional 673,630 shares during the last quarter. Renaissance Technologies LLC raised its position in Express by 478.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,879,300 shares of the company’s stock worth $12,685,000 after buying an additional 1,554,200 shares during the last quarter. Finally, Majedie Asset Management Ltd purchased a new position in Express during the 3rd quarter worth $11,427,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.
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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