UPDATE - Barclays Downgraded Express Inc. (EXPR) to 'Equalweight' After Good Run; Q4 Retail Preview
Tweet Send to a FriendGet Alerts EXPR Hot Sheet
Price: $19.20 -2.04%
Rating Summary:
8 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade EXPR Now!
UPDATE - Barclays downgraded Express Inc. (NYSE: EXPR) from Overweight to Equalweight, maintains price target of $23.00.
Analyst, Stacy Pak, said, "We are downgrading EXPR as the shares have had a good run, the company has already achieved meaningful sales and margin gains, go-forward compares look more difficult, contemporary fashion looks more competitive, and we think the SG&A hurdle rate will go higher going forward with an with international expansion/flagship strategy."
Pak commented on several retail companies that are reporting earnings this week, including American Eagle (NYSE: AEO), Aeropostale (NYSE: ARO), Ann Inc (NYSE: ANN), Zumiez (Nasdaq: ZUMZ) and Children's Place (Nasdaq: PLCE), highlighting AEO, ARO and PLCE as the most likely to benefit from cost recovery.
Although, Pak, did mention, that there could be a few more retailers that have a short-squeeze pop coming, citing examples of how Chico's (NYSE: CHS) and The Gap (NYSE: GPS) have jumped between 26-30% in the past 30 days. She said that despite ANN being Underweight rating, this stock could also be a short-squeeze candidate.
Barclays raises FY13 EPS estimate of EXPR from $1.82 to $1.88, AEO's FY13 from $1.02 to $1.14, ANN's FY12 from $1.67 to $1.68 and FY13 from $1.90 to $1.97 and ZUMZ's FY13 from $1.35 to $1.39.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Stacy Pak, said, "We are downgrading EXPR as the shares have had a good run, the company has already achieved meaningful sales and margin gains, go-forward compares look more difficult, contemporary fashion looks more competitive, and we think the SG&A hurdle rate will go higher going forward with an with international expansion/flagship strategy."
Pak commented on several retail companies that are reporting earnings this week, including American Eagle (NYSE: AEO), Aeropostale (NYSE: ARO), Ann Inc (NYSE: ANN), Zumiez (Nasdaq: ZUMZ) and Children's Place (Nasdaq: PLCE), highlighting AEO, ARO and PLCE as the most likely to benefit from cost recovery.
Although, Pak, did mention, that there could be a few more retailers that have a short-squeeze pop coming, citing examples of how Chico's (NYSE: CHS) and The Gap (NYSE: GPS) have jumped between 26-30% in the past 30 days. She said that despite ANN being Underweight rating, this stock could also be a short-squeeze candidate.
Barclays raises FY13 EPS estimate of EXPR from $1.82 to $1.88, AEO's FY13 from $1.02 to $1.14, ANN's FY12 from $1.67 to $1.68 and FY13 from $1.90 to $1.97 and ZUMZ's FY13 from $1.35 to $1.39.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
- Needham & Company Boosts Numbers on Infoblox (BLOX) on Strong Q3
- Needham & Company Lifts Numbers on Marvell (MRVL) on Solid Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Retail SalesRelated Entities
Barclays, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
