Repay (NASDAQ:RPAY - Get Free Report) announced that its board has initiated a stock repurchase program on Monday, May 12th, RTT News reports. The company plans to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 19% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Repay Stock Up 2.5%
RPAY traded up $0.10 on Monday, hitting $4.04. 2,143,298 shares of the company were exchanged, compared to its average volume of 962,412. Repay has a twelve month low of $3.59 and a twelve month high of $11.27. The company has a market cap of $393.85 million, a price-to-earnings ratio of -4.64 and a beta of 1.61. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $4.99 and a two-hundred day moving average price of $6.78.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. BMO Capital Markets cut their target price on Repay from $10.00 to $8.00 and set a "market perform" rating for the company in a research note on Tuesday, March 4th. Stephens reissued an "overweight" rating and set a $11.00 target price on shares of Repay in a research note on Tuesday, March 4th. Canaccord Genuity Group dropped their price objective on Repay from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. DA Davidson reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Repay in a research note on Thursday, February 27th. Finally, Barclays dropped their price objective on Repay from $9.00 to $6.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.94.
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About Repay
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Repay Holdings Corporation, payments technology company, provides integrated payment processing solutions to industry-oriented markets in the United States. It operates through two segments: Consumer Payments and Business Payments. The company's payment processing solutions enable consumers and businesses to make payments using electronic payment methods.
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