Express (EXPR) Stock Price Down 8.4%

Express, Inc. (NYSE:EXPR)’s share price dropped 8.4% on Thursday . The stock traded as low as $4.95 and last traded at $5.13. Approximately 4,512,112 shares changed hands during trading, an increase of 74% from the average daily volume of 2,597,137 shares. The stock had previously closed at $5.60.

EXPR has been the subject of several research analyst reports. ValuEngine cut Express from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. B. Riley set a $7.00 price objective on Express and gave the stock a “hold” rating in a research report on Friday, November 30th. Wedbush cut their price objective on Express from $10.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday. MKM Partners set a $6.00 price objective on Express and gave the stock a “hold” rating in a research report on Thursday, December 6th. Finally, Zacks Investment Research cut Express from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Express presently has a consensus rating of “Hold” and an average target price of $7.00.

The firm has a market cap of $372.11 million, a P/E ratio of 14.25 and a beta of 1.19.

Express (NYSE:EXPR) last posted its quarterly earnings results on Thursday, November 29th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $515.00 million during the quarter, compared to analysts’ expectations of $505.46 million. Express had a return on equity of 5.94% and a net margin of 1.84%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. As a group, equities analysts predict that Express, Inc. will post 0.29 EPS for the current year.

In other Express news, major shareholder Contrarius Investment Manageme sold 240,425 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $5.36, for a total value of $1,288,678.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Express by 3.6% in the 3rd quarter. BlackRock Inc. now owns 10,648,459 shares of the company’s stock worth $117,772,000 after buying an additional 371,547 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Express by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,256,644 shares of the company’s stock worth $80,259,000 after buying an additional 98,995 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Express by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 7,256,644 shares of the company’s stock worth $80,259,000 after buying an additional 98,995 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Express by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,172,692 shares of the company’s stock worth $38,179,000 after buying an additional 403,825 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Express by 2.9% in the 3rd quarter. LSV Asset Management now owns 1,571,300 shares of the company’s stock worth $17,378,000 after buying an additional 44,727 shares in the last quarter.

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About Express (NYSE:EXPR)

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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