AMREP (NYSE:AXR) Rating Lowered to Strong Sell at Wall Street Zen

by · The Cerbat Gem

AMREP (NYSE:AXR – Get Free Report) was downgraded by Wall Street Zen to a “strong sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Freedom Broker reduced their price objective on AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, AMREP has an average rating of “Hold” and an average target price of $22.00.

Read Our Latest Research Report on AXR

AMREP Stock Up 0.0%

AXR opened at $21.55 on Friday. AMREP has a 52-week low of $17.61 and a 52-week high of $29.01. The firm’s fifty day simple moving average is $22.77 and its two-hundred day simple moving average is $25.11. The company has a market cap of $114.62 million, a price-to-earnings ratio of 19.95 and a beta of 1.15.

AMREP (NYSE:AXR – Get Free Report) last posted its quarterly earnings data on Friday, September 11th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.39). AMREP had a return on equity of 4.21% and a net margin of 14.31%.The firm had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million.

Insider Activity

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of AMREP stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction of $93,960.00. Following the completion of the sale, the chief financial officer directly owned 6,574 shares in the company, valued at $154,423.26. This trade represents a 37.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 37.40% of the company’s stock.

Institutional Trading of AMREP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of AMREP during the second quarter worth $45,000. Empowered Funds LLC acquired a new stake in shares of AMREP in the second quarter valued at $1,225,000. JB Capital Partners LP purchased a new stake in shares of AMREP in the 2nd quarter valued at $3,565,099. Robotti Robert purchased a new stake in shares of AMREP in the 2nd quarter valued at $13,159,000. Finally, BlackRock Inc. acquired a new position in AMREP during the 2nd quarter worth about $561,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Company Profile

(Get Free Report)

AMREP Corporation is a diversified company that provides fulfillment services and develops real estate. Through its fulfillment operations, the company serves publishers, membership organizations, nonprofit groups and other businesses with subscription and product fulfillment, direct-mail distribution, data processing, customer-care support and related services.

AMREP’s real estate business is conducted primarily through its AMREP Southwest subsidiary, which owns and develops residential and commercial land in and around Rio Rancho, New Mexico.

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