Stock Buyback Plan Approved by A2Z Cust2Mate Solutions (NASDAQ:AZ) Board of Directors

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced that its Board of Directors has approved a share repurchase plan on Monday, July 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AZ shares. Wall Street Zen raised A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Northland Securities assumed coverage on A2Z Cust2Mate Solutions in a research note on Friday, March 27th. They issued an “outperform” rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Finally, Zacks Research raised shares of A2Z Cust2Mate Solutions to a “hold” rating in a research note on Monday, March 30th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, A2Z Cust2Mate Solutions presently has a consensus rating of “Hold” and a consensus target price of $15.00.

A2Z Cust2Mate Solutions Trading Down 3.2%

Shares of A2Z Cust2Mate Solutions stock traded down $0.20 during trading hours on Tuesday, reaching $6.01. 136,056 shares of the company’s stock were exchanged, compared to its average volume of 311,936. The company has a 50 day moving average of $6.33 and a two-hundred day moving average of $6.55. The stock has a market cap of $267.69 million, a P/E ratio of -5.89 and a beta of 1.16. A2Z Cust2Mate Solutions has a fifty-two week low of $4.97 and a fifty-two week high of $12.36.

A2Z Cust2Mate Solutions (NASDAQ:AZ) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The company had revenue of $3.32 million during the quarter, compared to the consensus estimate of $3.06 million. A2Z Cust2Mate Solutions had a negative net margin of 415.62% and a negative return on equity of 62.55%. As a group, analysts expect that A2Z Cust2Mate Solutions will post -0.51 earnings per share for the current fiscal year.

A2Z Cust2Mate Solutions Company Profile

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.