Wedbush Trims Express (EXPR) Target Price to $6.00

Express (NYSE:EXPR) had its price target trimmed by Wedbush from $10.00 to $6.00 in a research report sent to investors on Tuesday morning. The brokerage currently has a neutral rating on the stock. Wedbush also issued estimates for Express’ Q4 2019 earnings at $0.19 EPS, FY2019 earnings at $0.33 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.12 EPS, Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.36 EPS.

Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Express from a hold rating to a sell rating in a research report on Friday, January 4th. ValuEngine raised Express from a strong sell rating to a sell rating in a report on Thursday, December 27th. MKM Partners set a $6.00 price target on Express and gave the company a hold rating in a report on Thursday, December 6th. Finally, B. Riley set a $7.00 price target on Express and gave the company a hold rating in a report on Friday, November 30th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Express presently has a consensus rating of Hold and an average price target of $7.00.

Shares of NYSE EXPR traded up $0.29 during midday trading on Tuesday, hitting $5.42. 53,744 shares of the company’s stock were exchanged, compared to its average volume of 2,040,588. The company has a market cap of $383.76 million, a PE ratio of 15.07 and a beta of 1.19. Express has a twelve month low of $4.83 and a twelve month high of $11.69.

Express (NYSE:EXPR) last issued its quarterly earnings data on Thursday, November 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 5.94% and a net margin of 1.84%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts forecast that Express will post 0.3 earnings per share for the current year.

In other Express news, major shareholder Contrarius Investment Manageme sold 240,425 shares of the business’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $5.36, for a total transaction of $1,288,678.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in EXPR. Strs Ohio acquired a new stake in Express during the 2nd quarter valued at $330,000. Russell Investments Group Ltd. acquired a new position in shares of Express in the second quarter worth $676,000. Schwab Charles Investment Management Inc. increased its stake in shares of Express by 9.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,541,060 shares of the company’s stock worth $14,101,000 after acquiring an additional 130,689 shares during the last quarter. BlackRock Inc. increased its stake in shares of Express by 3.7% in the second quarter. BlackRock Inc. now owns 10,276,912 shares of the company’s stock worth $94,034,000 after acquiring an additional 370,011 shares during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Express in the second quarter worth $825,000.

About Express

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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