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

XPEL, Inc. (NASDAQ:XPEL)’s stock price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $32.75, but opened at $36.98. XPEL shares last traded at $34.44, with a volume of 57,753 shares trading hands.

The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. XPEL had a net margin of 10.92% and a return on equity of 21.89%. The firm had revenue of $124.71 million during the quarter, compared to analyst estimates of $118.37 million. During the same quarter last year, the business posted $0.54 EPS. The company’s revenue was up 13.5% on a year-over-year basis.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of XPEL from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st.

Hedge Funds Weigh In On XPEL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of XPEL by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,984 shares of the company’s stock valued at $407,000 after buying an additional 4,904 shares during the period. Deutsche Bank AG boosted its stake in shares of XPEL by 47.9% during the 4th quarter. Deutsche Bank AG now owns 23,017 shares of the company’s stock valued at $919,000 after buying an additional 7,459 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of XPEL by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,115 shares of the company’s stock valued at $2,201,000 after buying an additional 8,484 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of XPEL by 111.3% during the 1st quarter. Bridges Investment Management Inc. now owns 52,823 shares of the company’s stock valued at $1,552,000 after buying an additional 27,826 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of XPEL during the 4th quarter valued at $514,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

XPEL Stock Performance

The business’s 50 day simple moving average is $35.96 and its 200-day simple moving average is $34.81. The company has a market cap of $955.17 million, a price-to-earnings ratio of 20.19 and a beta of 1.83.

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.