AMREP (NYSE:AXR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of AMREP (NYSE:AXR) to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on AXR. Freedom Broker cut their price target on shares of AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, September 15th. Weiss Ratings lowered shares of AMREP from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, AMREP presently has a consensus rating of “Hold” and a consensus price target of $22.00.

AMREP Stock Performance

NYSE AXR opened at $21.24 on Friday. AMREP has a fifty-two week low of $17.61 and a fifty-two week high of $29.01. The stock has a 50 day simple moving average of $22.73 and a two-hundred day simple moving average of $25.06. The stock has a market cap of $113.00 million, a P/E ratio of 19.67 and a beta of 1.15.

AMREP (NYSE:AXR) last posted its earnings results 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). The business had revenue of $6.05 million for the quarter, compared to analysts’ expectations of $14.27 million. AMREP had a net margin of 14.31% and a return on equity of 4.21%.

Insider Activity

In other news, CFO Adrienne Uleau sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.49, for a total value of $93,960.00. Following the completion of the transaction, the chief financial officer owned 6,574 shares in the company, valued at $154,423.26. This trade represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On AMREP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in AMREP during the second quarter valued at $45,000. Marquette Asset Management LLC purchased a new stake in shares of AMREP in the 2nd quarter worth about $164,000. BlackRock Inc. bought a new position in shares of AMREP in the 2nd quarter worth about $561,000. Empowered Funds LLC bought a new position in shares of AMREP in the 2nd quarter worth about $1,225,000. Finally, JB Capital Partners LP purchased a new position in AMREP during the 2nd quarter valued at about $3,565,099. 59.85% of the stock is owned by hedge funds and other institutional investors.

About AMREP

AMREP Corporation (NYSE:AXR) is a diversified company with operations in fulfillment services and real estate. Through its fulfillment businesses, the company provides subscription and membership fulfillment, direct-mail services, customer contact and support, data processing, printing, and related distribution services for publishers, membership organizations, and other clients.

AMREP’s real estate operations are conducted primarily through subsidiaries involved in the acquisition, development, and sale of residential and commercial land.