XPEL (NASDAQ:XPEL) Releases Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• XPEL reported quarterly earnings of $0.59 per share, exceeding analysts' expectations of $0.52 by $0.07, and achieved a revenue of $124.71 million.
• The company initiated a $50 million share repurchase plan, indicating the board's belief that the shares are undervalued.
• Wall Street analysts upgraded XPEL from a "hold" rating to a "buy" rating, signaling increased confidence in the company's growth prospects.

XPEL (NASDAQ:XPEL - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.07, Briefing.com reports. XPEL had a return on equity of 21.17% and a net margin of 10.84%. The business had revenue of $124.71 million for the quarter, compared to analyst estimates of $118.37 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company's revenue was up 13.5% on a year-over-year basis.

XPEL Stock Performance

XPEL stock traded down $1.34 on Friday, reaching $33.58. The company had a trading volume of 242,994 shares, compared to its average volume of 195,517. XPEL has a 1 year low of $24.25 and a 1 year high of $47.59. The company's fifty day moving average is $35.93 and its 200 day moving average is $34.76. The company has a market cap of $929.16 million, a P/E ratio of 19.08 and a beta of 1.83.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded XPEL from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st.

XPEL announced that its board has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Creative Planning increased its holdings in XPEL by 24.9% in the 2nd quarter. Creative Planning now owns 10,276 shares of the company's stock valued at $369,000 after purchasing an additional 2,050 shares in the last quarter. Jane Street Group LLC increased its holdings in XPEL by 177.4% in the 1st quarter. Jane Street Group LLC now owns 29,905 shares of the company's stock valued at $879,000 after purchasing an additional 19,126 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in XPEL by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 62,214 shares of the company's stock valued at $1,828,000 after purchasing an additional 7,099 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in XPEL by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,994 shares of the company's stock valued at $441,000 after purchasing an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

About XPEL

XPEL, Inc sells, distributes, and installs protective films and coatings worldwide. The company offers automotive surface and paint protection film, headlight protection, and automotive and architectural window films, as well as proprietary DAP software. It also provides pre-cut film products, merchandise and apparel, ceramic coatings, and tools and accessories.

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