AMREP (NYSE:AXR) Downgraded by Wall Street Zen to “Strong Sell”
by Sarita Garza · The Markets DailyWall Street Zen lowered shares of AMREP (NYSE:AXR – Free Report) to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.
Other equities analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Freedom Broker cut their target price on shares of AMREP from $26.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, September 15th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.
Check Out Our Latest Report on AXR
AMREP Stock Down 1.8%
AXR opened at $21.55 on Friday. AMREP has a 12-month low of $17.61 and a 12-month high of $29.01. The business has a 50 day moving average of $22.77 and a 200-day moving average of $25.13. The stock 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 earnings results on Friday, September 11th. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.39). AMREP had a return on equity of 4.21% and a net margin of 14.31%.The business had revenue of $6.05 million for the quarter, compared to analyst estimates of $14.27 million.
Insider Buying and Selling at AMREP
In other news, CFO Adrienne Uleau sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.49, for a total transaction of $93,960.00. Following the transaction, the chief financial officer owned 6,574 shares in the company, valued at approximately $154,423.26. This trade represents a 37.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.40% of the company’s stock.
Institutional Trading of AMREP
Several institutional investors have recently added to or reduced their stakes in AXR. Allworth Financial LP bought a new position in AMREP during the 2nd quarter worth $45,000. Marquette Asset Management LLC acquired a new stake in shares of AMREP during the second quarter worth $164,000. BlackRock Inc. bought a new stake in shares of AMREP in the second quarter valued at about $561,000. Empowered Funds LLC bought a new stake in shares of AMREP in the second quarter valued at about $1,225,000. Finally, JB Capital Partners LP acquired a new position in shares of AMREP in the second quarter valued at about $3,565,099. 59.85% of the stock is currently owned by institutional investors.
AMREP Company Profile
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.