Stock Buyback Program Approved by The Gym Group (LON:GYM) Board of Directors

The Gym Group (LON:GYM) declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 15th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

The Gym Group Trading Up 3.0%

The Gym Group stock opened at GBX 166.60 on Friday. The stock has a 50-day moving average price of GBX 146.86 and a 200 day moving average price of GBX 145.79. The company has a market capitalization of £292.94 million, a price-to-earnings ratio of 40.63, a price-to-earnings-growth ratio of -12.95 and a beta of 1.75. The Gym Group has a 52 week low of GBX 119 and a 52 week high of GBX 168. The company has a quick ratio of 0.27, a current ratio of 0.20 and a debt-to-equity ratio of 307.68.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GYM shares. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 180 target price on shares of The Gym Group in a research report on Thursday, October 16th. Royal Bank Of Canada upgraded shares of The Gym Group to an “outperform” rating and upped their price objective for the company from GBX 155 to GBX 200 in a report on Friday. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 196.

The Gym Group Company Profile

The Gym Group plc, together with its subsidiaries, operates a network of gym facilities under the Gym Group brand name in the United Kingdom. The company was founded in 2007 and is based in Croydon, the United Kingdom.