Vylor (NYSE:VYLR) to Buy Back $3.00 billion in Outstanding Shares

Vylor (NYSE:VYLR) announced that its Board of Directors has approved a share buyback program on Thursday, October 22nd, RTT News reports. The company plans to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.3% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its shares are undervalued.

Vylor Trading Up 4.7%

NYSE VYLR traded up $3.37 on Friday, reaching $74.49. The company had a trading volume of 3,150,968 shares, compared to its average volume of 6,999,106. Vylor has a 52 week low of $65.00 and a 52 week high of $77.39.

Vylor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 30th.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VYLR. Morgan Stanley started coverage on Vylor in a report on Friday, October 2nd. They set an “overweight” rating and a $85.00 price objective for the company. Wolfe Research raised shares of Vylor to a “strong-buy” rating in a research note on Thursday, October 1st. Wall Street Zen upgraded shares of Vylor to a “sell” rating in a research report on Saturday, October 10th. Vertical Research cut shares of Vylor from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Vylor in a research note on Wednesday, October 14th. They set a “buy” rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Vylor has an average rating of “Moderate Buy” and an average target price of $82.67.

Vylor Company Profile

Vylor Inc is a seed and genetics company. It develops and supplies germplasm for farmers to improve crop health and produce higher yields. Vylor Inc is based in JOHNSTON, Iowa.