Express (NYSE:EXPR) Downgraded by Zacks Investment Research

Express (NYSE:EXPR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

Other equities analysts have also recently issued reports about the company. B. Riley cut their price target on Express from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. ValuEngine upgraded Express from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating, Express has an average rating of “Hold” and a consensus price target of $4.60.

EXPR stock traded down $0.04 during trading on Monday, hitting $1.96. The company had a trading volume of 1,152,800 shares, compared to its average volume of 1,873,987. The stock has a 50-day moving average price of $2.45. Express has a one year low of $1.95 and a one year high of $11.69. The firm has a market cap of $147.98 million, a PE ratio of 6.13 and a beta of 0.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.39 and a current ratio of 0.97.

Express (NYSE:EXPR) last announced its earnings results on Thursday, May 30th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.16. The business had revenue of $451.30 million for the quarter, compared to analysts’ expectations of $429.41 million. Express had a positive return on equity of 2.20% and a negative net margin of 0.04%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. Equities analysts expect that Express will post -0.11 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC raised its position in shares of Express by 142.2% during the second quarter. Quinn Opportunity Partners LLC now owns 3,050,890 shares of the company’s stock worth $8,329,000 after purchasing an additional 1,791,095 shares during the period. Norges Bank acquired a new position in shares of Express during the fourth quarter worth approximately $9,096,000. Spark Investment Management LLC raised its position in shares of Express by 8.3% during the first quarter. Spark Investment Management LLC now owns 1,740,800 shares of the company’s stock worth $7,450,000 after purchasing an additional 133,600 shares during the period. Bank of America Corp DE raised its position in shares of Express by 2,029.4% during the fourth quarter. Bank of America Corp DE now owns 1,167,252 shares of the company’s stock worth $5,965,000 after purchasing an additional 1,112,436 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Express by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,089,285 shares of the company’s stock worth $5,565,000 after purchasing an additional 33,758 shares during the period.

Express Company Profile

Express, Inc operates as an apparel and accessories retailer. It offers apparel and accessories for women and men for work, casual, jeanswear, and going-out occasions. The company sells its products through its e-commerce Website, express.com; and mobile app, as well as franchisees Express locations in Latin America.

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