Share Buyback Plan Announced by XPEL (NASDAQ:XPEL) Board of Directors

XPEL (NASDAQ:XPEL) declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th, RTT News reports. The company plans to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

XPEL Stock Up 14.4 %

XPEL stock opened at $33.43 on Wednesday. The firm has a market cap of $924.84 million, a P/E ratio of 19.10 and a beta of 1.83. The business has a fifty day moving average of $29.19 and a two-hundred day moving average of $37.48. XPEL has a twelve month low of $24.25 and a twelve month high of $48.58.

XPEL (NASDAQ:XPEL) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.25 by $0.06. XPEL had a net margin of 11.61% and a return on equity of 24.68%. During the same period in the prior year, the company posted $0.24 EPS. XPEL’s revenue was up 15.2% compared to the same quarter last year. Equities analysts expect that XPEL will post 1.73 earnings per share for the current year.

About XPEL

XPEL, Inc sells, distributes, and installs protective films and coatings worldwide. The company offers automotive surface and paint protection film, headlight protection, and automotive and architectural window films, as well as proprietary DAP software. It also provides pre-cut film products, merchandise and apparel, ceramic coatings, and tools and accessories.