Express (EXPR) Trading Down 8.4%

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

A number of equities research analysts have recently issued reports on the company. ValuEngine lowered Express from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. B. Riley set a $7.00 target price on Express and gave the stock a “hold” rating in a research report on Friday, November 30th. Zacks Investment Research lowered Express from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. MKM Partners set a $6.00 target price on Express and gave the stock a “hold” rating in a research report on Thursday, December 6th. Finally, Wedbush cut their target price on Express from $10.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.00.

The firm has a market cap of $372.11 million, a price-to-earnings ratio of 14.25 and a beta of 1.19.

Express (NYSE:EXPR) last issued its quarterly earnings results on Thursday, November 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Express had a return on equity of 5.94% and a net margin of 1.84%. The business had revenue of $515.00 million for the quarter, compared to the consensus estimate of $505.46 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Express’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Express, Inc. will post 0.29 earnings per share for the current year.

In other news, major shareholder Contrarius Investment Manageme sold 240,425 shares of Express stock in a transaction on Thursday, December 20th. The stock was 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 at this link. Insiders own 3.20% of the company’s stock.

Several hedge funds have recently modified their holdings of EXPR. Pacer Advisors Inc. grew its stake in Express by 215.2% in the third quarter. Pacer Advisors Inc. now owns 15,931 shares of the company’s stock valued at $176,000 after purchasing an additional 10,876 shares in the last quarter. Kessler Investment Group LLC purchased a new position in Express in the third quarter valued at about $179,000. United Services Automobile Association grew its stake in Express by 54.1% in the second quarter. United Services Automobile Association now owns 24,266 shares of the company’s stock valued at $222,000 after purchasing an additional 8,521 shares in the last quarter. SG Americas Securities LLC grew its stake in Express by 71.9% in the third quarter. SG Americas Securities LLC now owns 20,533 shares of the company’s stock valued at $227,000 after purchasing an additional 8,585 shares in the last quarter. Finally, Man Group plc purchased a new position in Express in the third quarter valued at about $262,000.

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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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