Zacks Investment Research downgraded shares of Express (NYSE:EXPR) from a buy rating to a hold rating in a report published on Tuesday morning.
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. “
A number of other equities analysts have also recently weighed in on the stock. B. Riley set a $7.00 price objective on shares of Express and gave the stock a hold rating in a research report on Friday, November 30th. ValuEngine cut shares of Express from a hold rating to a sell rating in a research report on Wednesday, November 28th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $8.20.
Express (NYSE:EXPR) last announced its quarterly earnings results on Thursday, November 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. The business had revenue of $515.00 million during the quarter, compared to the consensus estimate of $505.46 million. Express had a net margin of 1.84% and a return on equity of 5.94%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. Research analysts forecast that Express will post 0.35 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of EXPR. Granite Investment Partners LLC purchased a new position in shares of Express during the 2nd quarter worth approximately $12,679,000. Contrarius Investment Management Ltd boosted its position in Express by 15.3% in the 2nd quarter. Contrarius Investment Management Ltd now owns 6,773,637 shares of the company’s stock valued at $61,979,000 after buying an additional 897,275 shares during the period. JPMorgan Chase & Co. boosted its position in Express by 204.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,245,987 shares of the company’s stock valued at $13,781,000 after buying an additional 836,893 shares during the period. Spark Investment Management LLC boosted its position in Express by 150.1% in the 2nd quarter. Spark Investment Management LLC now owns 1,102,000 shares of the company’s stock valued at $10,083,000 after buying an additional 661,400 shares during the period. Finally, AQR Capital Management LLC boosted its position in Express by 611.0% in the 3rd quarter. AQR Capital Management LLC now owns 687,609 shares of the company’s stock valued at $7,605,000 after buying an additional 590,896 shares during the period.
Express Company Profile
Express, Inc operates as a specialty apparel and accessories retailer. It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; mobile app; and franchisees Express locations in Latin America.
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