XPEL (NASDAQ:XPEL) Shares Down 6.5% - Here's Why

Shares of XPEL, Inc. (NASDAQ:XPEL - Get Free Report) dropped 6.5% on Friday . The stock traded as low as $35.66 and last traded at $35.30. Approximately 65,606 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 211,687 shares. The stock had previously closed at $37.75.

Analyst Upgrades and Downgrades

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

XPEL Trading Up 0.3%

The firm has a 50-day simple moving average of $36.78 and a two-hundred day simple moving average of $35.42. The company has a market capitalization of $984.50 million, a price-to-earnings ratio of 20.81 and a beta of 1.83.

XPEL (NASDAQ:XPEL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.06. The business had revenue of $103.81 million for the quarter, compared to analyst estimates of $97.40 million. XPEL had a return on equity of 21.89% and a net margin of 10.92%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, sell-side analysts forecast that XPEL, Inc. will post 1.73 earnings per share for the current year.

XPEL declared that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eukles Asset Management acquired a new position in shares of XPEL during the 1st quarter valued at about $35,000. Brooklyn Investment Group increased its holdings in shares of XPEL by 805.7% during the 1st quarter. Brooklyn Investment Group now owns 1,739 shares of the company's stock valued at $51,000 after acquiring an additional 1,547 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of XPEL by 46.0% during the 4th quarter. Quantbot Technologies LP now owns 2,165 shares of the company's stock valued at $86,000 after acquiring an additional 682 shares during the last quarter. GAMMA Investing LLC boosted its stake in XPEL by 308.2% during the 1st quarter. GAMMA Investing LLC now owns 3,339 shares of the company's stock valued at $98,000 after purchasing an additional 2,521 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in XPEL by 12.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,395 shares of the company's stock valued at $159,000 after purchasing an additional 583 shares during the period. Institutional investors and hedge funds 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.