Express, Inc. (EXPR) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Express, Inc. (NYSE:EXPR) from a sell rating to a hold rating in a report released 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 research analysts have also recently weighed in on EXPR. UBS AG reaffirmed a sell rating and set a $6.00 price objective (down from $8.00) on shares of Express in a research report on Friday, June 2nd. BidaskClub raised Express from a strong sell rating to a sell rating in a research report on Wednesday, August 9th. BMO Capital Markets set a $7.00 price objective on Express and gave the company a hold rating in a research report on Tuesday, August 8th. MKM Partners reaffirmed a neutral rating and set a $7.00 price objective (down from $10.00) on shares of Express in a research report on Friday, June 2nd. Finally, Morgan Stanley lifted their price objective on Express from $7.50 to $10.50 and gave the company an equal weight rating in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $9.77.

Shares of Express (EXPR) opened at 5.70 on Tuesday. The firm’s 50-day moving average is $6.19 and its 200 day moving average is $8.13. The stock has a market capitalization of $447.14 million, a P/E ratio of 11.18 and a beta of 1.44. Express has a 12-month low of $5.51 and a 12-month high of $16.38.

Express (NYSE:EXPR) last posted its quarterly earnings data on Thursday, June 1st. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.05. Express had a net margin of 1.85% and a return on equity of 5.83%. The company had revenue of $467.03 million for the quarter, compared to analysts’ expectations of $468 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities research analysts forecast that Express will post $0.42 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in Express by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 15,361 shares of the company’s stock worth $103,000 after buying an additional 6,711 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Express during the second quarter worth approximately $114,000. Fox Run Management L.L.C. acquired a new position in Express during the second quarter worth approximately $119,000. Municipal Employees Retirement System of Michigan boosted its position in Express by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,490 shares of the company’s stock worth $125,000 after buying an additional 620 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in Express during the first quarter worth approximately $131,000. 91.81% of the stock is currently owned by institutional investors.

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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