Express (EXPR) is Downgraded by Piper Jaffray to Neutral

Express (EXPR) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Aug 24, 2016.

On the company’s financial health, Express reported $0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 24, 2016. Analyst had a consensus of $0.17. The company had revenue of $504.80 million for the quarter, compared to analysts expectations of $520.81 million. The company’s revenue was down -5.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Express opened for trading at $15.75 and hit $16.07 on the upside on Tuesday, eventually ending the session at $16.03, with a gain of 1.78% or 0.28 points. The heightened volatility saw the trading volume jump to 55,67,083 shares. Company has a market cap of $1,268 M.

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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