GP Strategies Corporation (GPX) to Buyback $10.00 million in Outstanding Stock
GP Strategies Corporation (NYSE:GPX) declared that its board has authorized a stock repurchase plan, which permits the company to repurchase $10.00 million in shares on Wednesday, November 22nd, EventVestor reports. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
GP Strategies Corporation (GPX) traded down $0.20 during trading hours on Thursday, hitting $23.50. The company’s stock had a trading volume of 78,300 shares, compared to its average volume of 30,748. GP Strategies Corporation has a 1 year low of $22.70 and a 1 year high of $31.25. The stock has a market cap of $397.77, a PE ratio of 18.52, a P/E/G ratio of 1.47 and a beta of 0.92. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.10.
GP Strategies Corporation (NYSE:GPX) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $125.01 million. GP Strategies Corporation had a return on equity of 12.16% and a net margin of 3.95%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. equities analysts expect that GP Strategies Corporation will post 1.08 earnings per share for the current fiscal year.
Several research firms recently weighed in on GPX. TheStreet cut shares of GP Strategies Corporation from a “b-” rating to a “c” rating in a research note on Friday, November 17th. B. Riley set a $27.00 price objective on GP Strategies Corporation and gave the stock a “hold” rating in a report on Tuesday, October 31st. Zacks Investment Research cut GP Strategies Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. BidaskClub raised GP Strategies Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Barrington Research raised their price target on GP Strategies Corporation from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.00.
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In other GP Strategies Corporation news, Director Marshall S. Geller sold 3,894 shares of GP Strategies Corporation stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $28.64, for a total transaction of $111,524.16. Following the completion of the transaction, the director now owns 141,051 shares in the company, valued at $4,039,700.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marshall S. Geller sold 7,691 shares of GP Strategies Corporation stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $28.59, for a total value of $219,885.69. Following the transaction, the director now owns 141,051 shares of the company’s stock, valued at approximately $4,032,648.09. The disclosure for this sale can be found here. Company insiders own 25.70% of the company’s stock.
About GP Strategies Corporation
GP Strategies Corporation (GP Strategies) is a global performance improvement solutions provider of sales and technical training, e-learning solutions, management consulting and engineering services. The Company operates in five segments: Learning Solutions, Professional & Technical Services, Sandy Training & Marketing, RWD and Energy Services.
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