XPEL (NASDAQ:XPEL) Issues Earnings Results

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) issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07, Briefing.com reports. The business had revenue of $124.71 million for the quarter, compared to analysts' expectations of $118.37 million. XPEL had a net margin of 10.84% and a return on equity of 21.17%. The company's revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS.

XPEL Stock Up 2.8%

NASDAQ XPEL traded up $1.04 during trading hours on Wednesday, hitting $38.50. 43,668 shares of the company were exchanged, compared to its average volume of 210,411. XPEL has a 52 week low of $24.25 and a 52 week high of $47.23. The stock has a 50-day moving average price of $35.86 and a 200 day moving average price of $34.54. The stock has a market cap of $1.07 billion, a PE ratio of 21.87 and a beta of 1.83.

XPEL announced that its board has authorized a share repurchase program on Tuesday, May 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of XPEL from a "buy" rating to a "hold" rating in a research note on Saturday.

Institutional Investors Weigh In On XPEL

Several institutional investors have recently modified their holdings of XPEL. JPMorgan Chase & Co. lifted its stake in shares of XPEL by 354.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 115,193 shares of the company's stock valued at $4,135,000 after purchasing an additional 89,820 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 during the last quarter. American Century Companies Inc. lifted its stake in shares of XPEL by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 51,045 shares of the company's stock valued at $1,833,000 after purchasing an additional 3,261 shares during the last quarter. Finally, Creative Planning grew its holdings in XPEL by 24.9% during 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 during the last quarter. 75.08% of the stock is owned by institutional investors.

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.