Stock Repurchase Plan Announced by Restore (LON:RST) Board of Directors

Restore (LON:RST) declared that its Board of Directors has initiated a share buyback program on Monday, March 16th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Restore Price Performance

Restore stock traded up GBX 5 during mid-day trading on Monday, hitting GBX 256. The company’s stock had a trading volume of 589,132 shares, compared to its average volume of 298,798. The stock 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. Restore has a twelve month low of GBX 207 and a twelve month high of GBX 355. The stock’s fifty day moving average price is GBX 258.80 and its two-hundred day moving average price is GBX 255.34. The company has a quick ratio of 1.28, a current ratio of 0.93 and a debt-to-equity ratio of 118.39.

Restore (LON:RST) last released 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%. Research analysts forecast that Restore will post 20.4953032 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Restore

In related news, insider Charles Skinner purchased 11,001 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of GBX 273 per share, for a total transaction of £30,032.73. 15.89% of the stock is owned by company insiders.

About Restore

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.