Zacks Investment Research Upgrades Express (EXPR) to “Buy”

Express (NYSE:EXPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $10.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 35.69% from the stock’s previous close.

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 equities analysts have also weighed in on the stock. BidaskClub upgraded shares of Express from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets restated a “hold” rating and set a $7.00 target price on shares of Express in a report on Wednesday, September 13th. TheStreet upgraded shares of Express from a “d+” rating to a “c-” rating in a report on Thursday, November 16th. SunTrust Banks restated a “hold” rating and set a $6.00 target price on shares of Express in a report on Monday, October 2nd. Finally, B. Riley lifted 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.04.

Express (NYSE EXPR) traded down $1.87 during trading hours on Tuesday, hitting $7.37. 15,333,027 shares of the company traded hands, compared to its average volume of 3,400,000. The firm has a market cap of $580.77, a price-to-earnings ratio of 46.06 and a beta of 1.55. Express has a 1-year low of $5.28 and a 1-year high of $11.69.

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

Express declared that its Board of Directors has approved a share repurchase program on Thursday, November 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in Express by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 61,848 shares of the company’s stock worth $418,000 after buying an additional 3,663 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Express by 15.6% in the 2nd quarter. Voya Investment Management LLC now owns 33,207 shares of the company’s stock worth $224,000 after buying an additional 4,480 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Express by 9.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 53,339 shares of the company’s stock worth $360,000 after buying an additional 4,669 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Express by 29.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock worth $140,000 after buying an additional 4,722 shares in the last quarter. Finally, Penn Capital Management Co. Inc. lifted its holdings in Express by 1.0% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 526,744 shares of the company’s stock worth $3,556,000 after buying an additional 5,348 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

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About Express

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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