Rexhall to Start Buying Back Some of Its Stock

Rexhall Industries, based in Saugus, announced that it will begin repurchasing some of its outstanding common stock up to 150,000 shares to boost the market value of its stock.

Rexhall, a manufacturer of motor homes, has 2,405,000 shares outstanding. Company officials said they are undertaking the repurchasing effort because they do not believe that the present price of the stock reflects its true value.

Rexhall’s stock has been in a nose dive in recent months. Over the past year, Rexhall’s stock traded as high as $11.75 per share. But Monday, the stock closed at $3.25, up 12.5 cents from Friday’s closing.