Express (EXPR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Express (NYSE:EXPR) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $10.00 target price on the stock.

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. “

EXPR has been the subject of a number of other reports. SunTrust Banks reissued a hold rating and issued a $6.00 target price on shares of Express in a report on Monday, October 2nd. BidaskClub raised shares of Express from a strong sell rating to a sell rating in a report on Wednesday, October 18th. FBR & Co reissued a hold rating and issued a $7.00 target price on shares of Express in a report on Friday, September 29th. BMO Capital Markets reissued a hold rating and issued a $7.00 target price on shares of Express in a report on Wednesday, September 13th. Finally, B. Riley raised 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 analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Express has an average rating of Hold and an average target price of $8.88.

Express (EXPR) traded down $0.23 during mid-day trading on Tuesday, hitting $7.26. 4,084,434 shares of the company were exchanged, compared to its average volume of 3,704,305. Express has a 1 year low of $5.28 and a 1 year high of $11.69. The stock has a market capitalization of $590.27, a price-to-earnings ratio of 45.38 and a beta of 1.55.

Express (NYSE:EXPR) last posted its earnings results on Thursday, November 30th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Express had a net margin of 0.60% and a return on equity of 3.85%. The firm had revenue of $498.70 million during the quarter, compared to analyst estimates of $487.38 million. During the same period last year, the firm posted $0.15 earnings per share. Express’s revenue for the quarter was down 1.5% compared to the same quarter last year. sell-side analysts expect that Express will post 0.34 EPS for the current fiscal year.

Express announced that its Board of Directors has initiated a share repurchase program on Thursday, November 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Express by 6.3% in the second 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 during the last quarter. Voya Investment Management LLC lifted its position in Express by 15.6% in the second 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 during the last quarter. UBS Asset Management Americas Inc. lifted its position in Express by 9.6% in the second 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 during the last quarter. Public Employees Retirement System of Ohio lifted its position in Express by 29.5% in the second 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 during the last quarter. Finally, Penn Capital Management Co. Inc. lifted its position in Express by 1.0% in the second 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 during the last quarter. Institutional investors own 99.08% of the company’s stock.

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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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