Restore (LON:RST) Authorizes Share Repurchase Plan

Restore (LON:RST) declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 16th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Restore Trading Up 2.0%

LON:RST opened at GBX 256 on Tuesday. The company has a market capitalization of £347.24 million, a P/E ratio of 38.21, a P/E/G ratio of 0.41 and a beta of 0.07. The stock’s 50 day moving average price is GBX 258.80 and its 200 day moving average price is GBX 255.34. The company has a debt-to-equity ratio of 118.39, a quick ratio of 1.28 and a current ratio of 0.93. Restore has a 52 week low of GBX 207 and a 52 week high of GBX 355.

Restore (LON:RST) last issued its quarterly earnings data on Thursday, March 12th. The company reported GBX 22.50 earnings per share for the quarter. Restore had a return on equity of 0.58% and a net margin of 0.43%. On average, research analysts forecast that Restore will post 20.4953032 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their target price on Restore from GBX 425 to GBX 435 and gave the company a “buy” rating in a research note on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Restore has an average rating of “Buy” and a consensus target price of GBX 367.33.

Insider Activity

In other Restore news, insider Charles Skinner purchased 11,001 shares of the stock in a transaction on Thursday, December 18th. The shares were purchased at an average price of GBX 273 per share, with a total value of £30,032.73. Corporate insiders own 15.89% of the company’s stock.

Restore Company Profile

We provide secure and sustainable business services for data, information, communications and assets.

Restore plc leads the markets it serves. Supporting public and private sectors with critical services, income is highly predictable, recurring in nature and generates strong cashflows. We provide integrated information and data management, business digitisation, secure recycling of paper and technology assets, and commercial relocation solutions.

The Group has over 75 sites providing national scale with local service.