AMREP (NYSE:AXR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AMREP (NYSE:AXR) from a strong sell rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

AXR has been the topic of a number of other research reports. Freedom Broker dropped their price objective on AMREP from $26.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, September 15th. Weiss Ratings cut AMREP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.00.

AMREP Trading Up 1.7%

AXR stock opened at $20.64 on Friday. AMREP has a 52 week low of $17.61 and a 52 week high of $29.01. The company has a market capitalization of $109.83 million, a price-to-earnings ratio of 18.80 and a beta of 1.15. The firm’s 50-day moving average is $22.47 and its two-hundred day moving average is $24.76.

AMREP (NYSE:AXR) last released 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). The firm had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million. AMREP had a return on equity of 4.21% and a net margin of 14.31%.

Insiders Place Their Bets

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of AMREP stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $23.49, for a total value of $93,960.00. Following the transaction, the chief financial officer owned 6,574 shares in the company, valued at approximately $154,423.26. The trade was a 37.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 37.40% of the company’s stock.

Institutional Investors Weigh In On AMREP

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Robotti Robert purchased a new position in AMREP in the second quarter valued at about $13,159,000. JB Capital Partners LP acquired a new position in AMREP in the 2nd quarter worth about $3,565,099. Empowered Funds LLC acquired a new position in AMREP in the 2nd quarter worth about $1,225,000. BlackRock Inc. purchased a new stake in shares of AMREP during the 2nd quarter worth about $561,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AMREP during the 2nd quarter worth about $164,000. Institutional investors and hedge funds own 59.85% of the company’s stock.

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.