Restore (LON:RST) Board Announces Share Repurchase Plan

Restore (LON:RST) announced that its Board of Directors has approved 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 purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Restore Stock Up 2.0%

LON:RST traded up GBX 5 during mid-day trading on Monday, reaching GBX 256. The stock had a trading volume of 589,132 shares, compared to its average volume of 298,798. The stock has a market cap of £347.24 million, a P/E ratio of 38.21, a PEG ratio of 0.41 and a beta of 0.07. The business’s 50 day moving average is GBX 258.80 and its 200 day moving average is GBX 255.34. The company has a debt-to-equity ratio of 118.39, a current ratio of 0.93 and a quick ratio of 1.28. Restore has a fifty-two week low of GBX 207 and a fifty-two week high of GBX 355.

Restore (LON:RST) last posted its earnings results on Thursday, March 12th. The company reported GBX 22.50 earnings per share (EPS) for the quarter. Restore had a net margin of 0.43% and a return on equity of 0.58%. As a group, sell-side analysts predict that Restore will post 20.4953032 earnings per share for the current year.

Analyst Ratings Changes

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. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 367.33.

Insider Activity at Restore

In other Restore news, insider Charles Skinner purchased 11,001 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of GBX 273 per share, for a total transaction of £30,032.73. 15.89% of the stock is currently 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.