Jamba, Inc. (NASDAQ:JMBA), a leading healthy, active lifestyle brand, today announced that its Board of Directors increased its share repurchase authorization from $40 million to $45 million.

The company has repurchased approximately $34.2 million of common stock since the original authorization in November of 2014. The increased authorization leaves approximately $10.8 million of unspent authorization. The authorization expires May 4, 2016 and share repurchases may be made from time to time in the open market or in negotiated transactions depending on share price, market conditions and other factors.

“We are pleased that the Board has agreed to increase our share repurchase authorization for the second time since the program was announced less than a year ago,” said James D. White, chairman, president and CEO of Jamba, Inc.“Capital allocation is a critical element of our go-forward shareholder value creation plan and the Board will continue to monitor all opportunities to deploy additional capital in ways to create value for all our shareholders.” (Original Source)

Shares of Jamba closed yesterday at $14.05. JMBA has a 1-year high of $16.89 and a 1-year low of $11.56. The stock’s 50-day moving average is $14.47 and its 200-day moving average is $15.18.

On the ratings front, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on JMBA, with a price target of $18, in a report issued on July 30. The current price target implies an upside of 28.1% from current levels. According to TipRanks.com, Winkle has a total average return of 5.8%, a 47.3% success rate, and is ranked #652 out of 3752 analysts.

Jamba Inc owns, franchises and operates food stores. The Company is a retailer of blended-to-order fruit smoothies, squeezed-to-order juices, blended beverages and snacks.