American Vanguard Corporation (AVD - Free Report) announced that its board has approved a plan for repurchasing up to 300,000 shares of common stock within the requirements of Exchange Act Rule 10b-18 over the next six months.
This buyback program will help offset the expansion of outstanding shares emerging from equity awards made to the company’s workforce. The company believes that equity awards will help sync the interests of its employees with the stockholders. It will also enable employees to share in the company’s long-term success and help it retain personnel, especially in competitive employment markets.
The authorization to buy back shares further reflects on the strong degree of confidence that its board has in the strategic growth initiatives that are transforming American Vanguard, including new technologies in Green Solutions and precision application.
Shares of American Vanguard have gained 4.1% in the past year compared with a 22.4% rise of the industry.
American Vanguard, in its last earnings call, stated that it is well placed in domestic and international markets. The company reaffirmed its earlier outlook for 2021. It sees low double-digit revenue growth and comparatively stronger growth in both net income and EBITDA factoring in favorable market conditions. American Vanguard also expects these factors along with well-managed operating expenses to further strengthen the balance sheet.
Zacks Rank & Key Picks
American Vanguard currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Dow Inc. (DOW - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 494% for the current year. The company’s shares have soared 159.5% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 35.4% in the past year. It currently holds a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 43% in the past year. It currently carries a Zacks Rank #2.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
American Vanguard Corporation (AVD - Free Report) announced that its board has approved a plan for repurchasing up to 300,000 shares of common stock within the requirements of Exchange Act Rule 10b-18 over the next six months.
This buyback program will help offset the expansion of outstanding shares emerging from equity awards made to the company’s workforce. The company believes that equity awards will help sync the interests of its employees with the stockholders. It will also enable employees to share in the company’s long-term success and help it retain personnel, especially in competitive employment markets.
The authorization to buy back shares further reflects on the strong degree of confidence that its board has in the strategic growth initiatives that are transforming American Vanguard, including new technologies in Green Solutions and precision application.
Shares of American Vanguard have gained 4.1% in the past year compared with a 22.4% rise of the industry.
American Vanguard, in its last earnings call, stated that it is well placed in domestic and international markets. The company reaffirmed its earlier outlook for 2021. It sees low double-digit revenue growth and comparatively stronger growth in both net income and EBITDA factoring in favorable market conditions. American Vanguard also expects these factors along with well-managed operating expenses to further strengthen the balance sheet.
Zacks Rank & Key Picks
American Vanguard currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Dow Inc. (DOW - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 494% for the current year. The company’s shares have soared 159.5% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 35.4% in the past year. It currently holds a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 43% in the past year. It currently carries a Zacks Rank #2.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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