Express (EXPR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Express (NYSE:EXPR) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 10th.

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 research analysts have also issued reports on the company. BidaskClub raised Express from a sell rating to a hold rating in a research note on Wednesday, October 25th. BMO Capital Markets reiterated a hold rating and issued a $7.00 price target on shares of Express in a report on Wednesday, September 13th. TheStreet upgraded Express from a d+ rating to a c- rating in a report on Thursday, November 16th. SunTrust Banks reiterated a hold rating and issued a $6.00 price target on shares of Express in a report on Monday, October 2nd. Finally, B. Riley upped their price objective on Express from $7.00 to $9.00 and gave the stock a neutral rating in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Express presently has a consensus rating of Hold and a consensus price target of $8.88.

Shares of Express (NYSE:EXPR) traded up $0.16 during trading hours on Wednesday, hitting $7.45. The stock had a trading volume of 1,840,000 shares, compared to its average volume of 3,542,499. The stock has a market cap of $587.12, a price-to-earnings ratio of 24.03 and a beta of 1.55. Express has a fifty-two week low of $5.28 and a fifty-two week high of $11.69.

Express (NYSE:EXPR) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.08 EPS for the quarter, hitting 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 return on equity of 3.85% and a net margin of 0.60%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS. equities research analysts anticipate that Express will post 0.34 earnings per share for the current fiscal year.

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

Hedge funds have recently modified their holdings of the company. Frontier Capital Management Co. LLC lifted its holdings in Express by 15.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 755,477 shares of the company’s stock worth $7,668,000 after acquiring an additional 102,545 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Express in the fourth quarter valued at approximately $228,000. Schwab Charles Investment Management Inc. increased its stake in shares of Express by 12.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,252,829 shares of the company’s stock valued at $12,717,000 after purchasing an additional 140,628 shares during the period. Bank of Montreal Can increased its stake in shares of Express by 6.6% in the fourth quarter. Bank of Montreal Can now owns 290,743 shares of the company’s stock valued at $2,951,000 after purchasing an additional 18,119 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Express by 32.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 445,663 shares of the company’s stock valued at $3,012,000 after purchasing an additional 110,287 shares during the period. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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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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