Zacks Investment Research downgraded shares of Express (NYSE:EXPR) from a buy rating to a hold rating in a report issued on Wednesday.

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 topic of a number of other reports. B. Riley lifted their price objective on shares of Express from $7.00 to $9.00 and gave the stock a neutral rating in a report on Thursday, November 30th. BMO Capital Markets reaffirmed a hold rating and set a $7.00 price objective on shares of Express in a report on Thursday, November 2nd. SunTrust Banks cut their price objective on shares of Express to $8.00 and set a hold rating on the stock in a report on Wednesday. BidaskClub raised shares of Express from a sell rating to a hold rating in a report on Wednesday, October 25th. Finally, FBR & Co reaffirmed a hold rating and set a $7.00 price objective on shares of Express in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $8.88.

Express (NYSE:EXPR) traded down $0.23 during midday trading on Wednesday, reaching $7.26. 4,080,000 shares of the company traded hands, compared to its average volume of 3,704,305. Express has a twelve month low of $5.28 and a twelve month high of $11.69. The firm has a market cap of $572.15, a P/E ratio of 23.42 and a beta of 1.55.

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

Express declared that its board has initiated a share buyback program on Thursday, November 30th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in shares of Express by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 61,848 shares of the company’s stock worth $418,000 after purchasing an additional 3,663 shares during the period. Voya Investment Management LLC raised its stake in shares of Express by 15.6% during the 2nd quarter. Voya Investment Management LLC now owns 33,207 shares of the company’s stock worth $224,000 after purchasing an additional 4,480 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Express by 9.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 53,339 shares of the company’s stock worth $360,000 after purchasing an additional 4,669 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Express by 29.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,739 shares of the company’s stock worth $140,000 after purchasing an additional 4,722 shares during the period. Finally, Penn Capital Management Co. Inc. raised its stake in shares of Express by 1.0% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 526,744 shares of the company’s stock worth $3,556,000 after purchasing an additional 5,348 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

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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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