Emerald Expositions Events (EEX) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Emerald Expositions Events (NYSE:EEX) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Emerald Expositions Events, Inc. organizes business to business trade shows. The Company operates live events as well as offers other marketing services, including digital media and print publications. It serves sports, technology, jewelry, construction and other sectors primarily in the United States. Emerald Expositions Events, Inc. is headquartered in San Juan Capistrano, California. “

Separately, Robert W. Baird boosted their target price on Emerald Expositions Events from $23.00 to $24.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Emerald Expositions Events has a consensus rating of Buy and an average price target of $24.40.

Shares of Emerald Expositions Events (NYSE:EEX) opened at $20.67 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.63 and a quick ratio of 0.63. Emerald Expositions Events has a 1-year low of $18.67 and a 1-year high of $24.56.

Emerald Expositions Events (NYSE:EEX) last released its earnings results on Thursday, November 2nd. The company reported $0.37 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. Emerald Expositions Events had a return on equity of 7.09% and a net margin of 5.19%. The business had revenue of $100.40 million for the quarter, compared to the consensus estimate of $107.24 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. analysts anticipate that Emerald Expositions Events will post 1.06 EPS for the current year.

In other news, Director Jeffrey G. Naylor sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $22.13, for a total transaction of $265,560.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William Charles sold 17,675 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.28, for a total value of $393,799.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,883 shares of company stock worth $5,039,458.

Several large investors have recently made changes to their positions in EEX. FMR LLC bought a new position in shares of Emerald Expositions Events during the second quarter valued at $148,827,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Emerald Expositions Events by 1,879.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,238,144 shares of the company’s stock valued at $52,014,000 after purchasing an additional 2,125,071 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Emerald Expositions Events during the second quarter valued at $32,245,000. Lazard Asset Management LLC bought a new position in shares of Emerald Expositions Events during the second quarter valued at $30,602,000. Finally, Vanguard Group Inc. bought a new position in shares of Emerald Expositions Events during the second quarter valued at $27,309,000. 26.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Emerald Expositions Events

Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.

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