Helen of Troy (NASDAQ:HELE) to Buyback $500.00 million in Shares

Helen of Troy (NASDAQ:HELE) declared that its board has authorized a share repurchase plan on Thursday, September 5th, RTT News reports. The company plans to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 39.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Helen of Troy Price Performance

Helen of Troy stock opened at $55.03 on Tuesday. The business has a 50-day simple moving average of $59.19 and a 200 day simple moving average of $89.71. Helen of Troy has a 52 week low of $48.05 and a 52 week high of $127.83. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.08 and a beta of 0.85. The company has a quick ratio of 0.99, a current ratio of 1.87 and a debt-to-equity ratio of 0.40.

Helen of Troy (NASDAQ:HELE) last issued its quarterly earnings data on Tuesday, July 9th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.60). Helen of Troy had a return on equity of 10.25% and a net margin of 7.82%. The business had revenue of $416.80 million for the quarter, compared to analysts’ expectations of $445.85 million. During the same period in the previous year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, research analysts forecast that Helen of Troy will post 6.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HELE shares. StockNews.com lowered Helen of Troy from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. UBS Group reduced their target price on Helen of Troy from $100.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. DA Davidson downgraded shares of Helen of Troy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $139.00 to $67.00 in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group reduced their price objective on shares of Helen of Troy from $137.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th.

Helen of Troy Company Profile

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.