Express (EXPR) is Reiterated by Wedbush to Outperform, Lowers Price Target to $ 18

Express (EXPR) was Reiterated by Wedbush to “Outperform” while Lowering the Price Target of the company shares to $ 18 from a previous price target of $27 . Wedbush advised their investors in a research report released on May 26, 2016.

Many Wall Street Analysts have commented on Express. Shares were Reiterated by FBR Capital on May 26, 2016 to “Mkt Perform” and Lowered the Price Target to $ 18 from a previous price target of $20 .Shares were Reiterated by MKM Partners on May 25, 2016 to “Neutral” and Lowered the Price Target to $ 15 from a previous price target of $22 .Shares were Reiterated by Mizuho on May 25, 2016 to “Buy” and Lowered the Price Target to $ 17 from a previous price target of $24 .

On the company’s financial health, Express reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 25, 2016. Analyst had a consensus of $0.27. The company had revenue of $502.91 million for the quarter, compared to analysts expectations of $521.32 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Express closed down -1.35 points or -8.42% at $14.68 with 1,98,36,281 shares getting traded on Wednesday. Post opening the session at $13.29, the shares hit an intraday low of $13.25 and an intraday high of $14.72 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 15, 2016, John J Rafferty (EVP – Planning and Allocation) sold 10,000 shares at $20.00 per share price. According to the SEC, on Apr 13, 2016, Matthew C Moellering (EVP & Chief Operating Officer) sold 8,000 shares at $20.02 per share price. On Mar 24, 2016, Michael A Weiss (director) sold 50,000 shares at $21.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Express Inc. is a specialty apparel and accessories retailer offering both women’s and men’s merchandise targeting the 20 to 30 year old customer. The Company offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles including work casual jeans wear and going-out occasions. The Company operates one segment which includes the operation of its brick-and-mortar retail and outlet stores e-commerce operations and franchise operations. The Company sells its products through its e-commerce Website and has franchise agreements with franchisees that operate Express locations in Latin America the Middle East and South Africa. The Company operates approximately 641 stores across the United States in Canada and in Puerto Rico including 41 factory outlet stores.


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