The Gym Group (LON:GYM) to Buyback 0 Shares

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

The Gym Group Stock Performance

GYM stock traded up GBX 2 during mid-day trading on Thursday, hitting GBX 164. 427,231 shares of the company were exchanged, compared to its average volume of 242,871. The Gym Group has a 1-year low of GBX 119 and a 1-year high of GBX 168. The business has a 50 day simple moving average of GBX 146.27 and a 200-day simple moving average of GBX 145.69. The company has a current ratio of 0.20, a quick ratio of 0.27 and a debt-to-equity ratio of 307.68. The stock has a market capitalization of £288.36 million, a PE ratio of 40.00, a price-to-earnings-growth ratio of -12.95 and a beta of 1.75.

Analysts Set New Price Targets

GYM has been the topic of several research analyst reports. Berenberg Bank boosted their price target on The Gym Group from GBX 195 to GBX 200 and gave the company a “buy” rating in a report on Wednesday, September 17th. Jefferies Financial Group restated a “buy” rating and issued a GBX 180 target price on shares of The Gym Group in a research note on Thursday, October 16th. Four research 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 195.

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.