Morgan Stanley boosted its stake in shares of Express, Inc. (NYSE:EXPR) by 18.5% during the first quarter, Holdings Channel reports. The firm owned 537,761 shares of the company’s stock after buying an additional 84,073 shares during the period. Morgan Stanley’s holdings in Express were worth $4,899,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Karp Capital Management Corp purchased a new position in shares of Express during the first quarter valued at about $132,000. Mason Street Advisors LLC boosted its position in shares of Express by 7.0% in the first quarter. Mason Street Advisors LLC now owns 18,335 shares of the company’s stock valued at $167,000 after buying an additional 1,202 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Express during the fourth quarter valued at about $178,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Express during the first quarter worth about $192,000. Finally, Princeton Alpha Management LP bought a new position in shares of Express during the first quarter worth about $231,000. Institutional investors own 96.46% of the company’s stock.
Shares of Express, Inc. (NYSE EXPR) traded down 1.40% during mid-day trading on Thursday, hitting $6.36. The stock had a trading volume of 287,280 shares. The stock has a market capitalization of $498.91 million, a price-to-earnings ratio of 12.47 and a beta of 1.44. The stock’s 50-day moving average price is $6.32 and its 200-day moving average price is $8.35. Express, Inc. has a 12-month low of $5.84 and a 12-month high of $16.38.
Express (NYSE:EXPR) last released its quarterly earnings data on Thursday, June 1st. The company reported ($0.07) EPS 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 firm had revenue of $467.03 million during the quarter, compared to the consensus estimate of $468 million. During the same quarter in the prior year, the company earned $0.25 EPS. Express’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that Express, Inc. will post $0.42 EPS for the current fiscal year.
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A number of equities analysts recently issued reports on the company. UBS AG restated a “sell” rating and issued a $8.00 target price (down from $10.00) on shares of Express in a report on Tuesday, April 18th. BidaskClub upgraded Express from a “strong sell” rating to a “sell” rating in a report on Wednesday. Wolfe Research lifted their target price on Express from $6.00 to $10.00 and gave the stock a “peer perform” rating in a report on Friday, June 2nd. Morgan Stanley lifted their target price on Express from $7.50 to $10.50 and gave the stock an “equal weight” rating in a report on Wednesday, June 14th. Finally, BMO Capital Markets set a $7.00 target price on Express and gave the stock a “hold” rating in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $10.63.
Express Company Profile
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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