A2Z Cust2Mate Solutions (NASDAQ:AZ) to Repurchase $20.00 million in Outstanding Shares

A2Z Cust2Mate Solutions (NASDAQ:AZ) declared that its board has initiated a share buyback plan on Friday, March 27th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on AZ. Northland Securities initiated coverage on shares of A2Z Cust2Mate Solutions in a report on Friday. They issued an “outperform” rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a report on Wednesday, January 21st. Finally, Benchmark reiterated a “buy” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, A2Z Cust2Mate Solutions currently has an average rating of “Hold” and an average price target of $15.00.

A2Z Cust2Mate Solutions Trading Down 0.8%

NASDAQ:AZ opened at $6.59 on Friday. A2Z Cust2Mate Solutions has a 1-year low of $5.00 and a 1-year high of $12.36. The stock’s 50-day moving average is $6.12 and its 200-day moving average is $6.63. The stock has a market cap of $275.79 million, a P/E ratio of -5.88 and a beta of 1.43.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.