XPEL (NASDAQ:XPEL) Shares Gap Up on Earnings Beat

XPEL, Inc. (NASDAQ:XPEL)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $29.22, but opened at $35.92. XPEL shares last traded at $35.09, with a volume of 110,413 shares traded.

The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.06. The business had revenue of $103.81 million during the quarter, compared to the consensus estimate of $97.40 million. XPEL had a net margin of 11.61% and a return on equity of 24.68%. XPEL’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS.

XPEL declared that its board has approved a share repurchase program on Tuesday, May 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of XPEL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eukles Asset Management bought a new stake in shares of XPEL in the first quarter valued at approximately $35,000. Quantbot Technologies LP boosted its holdings in XPEL by 46.0% in the 4th quarter. Quantbot Technologies LP now owns 2,165 shares of the company’s stock valued at $86,000 after purchasing an additional 682 shares during the period. GAMMA Investing LLC grew its position in XPEL by 308.2% in the 1st quarter. GAMMA Investing LLC now owns 3,339 shares of the company’s stock worth $98,000 after purchasing an additional 2,521 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of XPEL by 12.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,395 shares of the company’s stock worth $159,000 after purchasing an additional 583 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of XPEL by 199.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,734 shares of the company’s stock valued at $189,000 after buying an additional 3,153 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

XPEL Price Performance

The firm has a market cap of $924.84 million, a P/E ratio of 19.10 and a beta of 1.83. The company’s 50 day moving average is $29.19 and its two-hundred day moving average is $37.48.

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.