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

Vylor (NYSE:VYLR) declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 22nd, RTT News reports. The company plans to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Vylor Price Performance

Shares of NYSE:VYLR traded up $3.37 during midday trading on Friday, hitting $74.49. The stock had a trading volume of 3,150,968 shares, compared to its average volume of 6,999,106. Vylor has a 12 month low of $65.00 and a 12 month high of $77.39.

Vylor Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on Vylor in a research report on Friday, October 2nd. They issued an “outperform” rating and a $85.00 target price on the stock. UBS Group assumed coverage on Vylor in a report on Monday, October 12th. They set a “buy” rating and a $89.00 target price on the stock. BMO Capital Markets assumed coverage on Vylor in a research report on Friday, October 2nd. They set an “outperform” rating and a $85.00 price target for the company. Morgan Stanley began coverage on Vylor in a research note on Friday, October 2nd. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Weiss Ratings raised Vylor from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Three investment 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. Based on data from MarketBeat.com, Vylor presently has a consensus rating of “Moderate Buy” and an average price target of $82.67.

About Vylor

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.