American Vanguard (NYSE:AVD) Issues Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• American Vanguard reported a quarterly earnings per share (EPS) of ($0.03), beating the consensus estimate of ($0.11) by $0.08.
• The company generated $129.31 million in revenue for the quarter, slightly below analyst estimates of $130 million.
• Following the earnings announcement, American Vanguard's stock rose 9.6%, closing at $4.23 with significant trading volume.

American Vanguard (NYSE:AVD - Get Free Report) announced its quarterly earnings data on Thursday. The basic materials company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08, Zacks reports. The company had revenue of $129.31 million for the quarter, compared to the consensus estimate of $130.00 million. American Vanguard had a negative net margin of 23.72% and a negative return on equity of 26.21%.

American Vanguard Stock Up 6.2%

Shares of AVD stock traded up $0.27 on Tuesday, hitting $4.62. The stock had a trading volume of 190,984 shares, compared to its average volume of 236,068. The company has a quick ratio of 1.00, a current ratio of 1.91 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $4.05 and a 200 day moving average price of $4.46. The company has a market cap of $130.44 million, a PE ratio of -1.03 and a beta of 1.23. American Vanguard has a one year low of $3.28 and a one year high of $8.70.

Hedge Funds Weigh In On American Vanguard

Hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new stake in American Vanguard during the 1st quarter worth $28,000. Jane Street Group LLC raised its holdings in shares of American Vanguard by 287.6% during the 1st quarter. Jane Street Group LLC now owns 40,509 shares of the basic materials company's stock worth $178,000 after acquiring an additional 30,058 shares during the period. Acadian Asset Management LLC raised its holdings in shares of American Vanguard by 1,732.4% during the 1st quarter. Acadian Asset Management LLC now owns 58,234 shares of the basic materials company's stock worth $253,000 after acquiring an additional 55,056 shares during the period. Finally, AQR Capital Management LLC raised its holdings in American Vanguard by 117.8% in the 1st quarter. AQR Capital Management LLC now owns 436,687 shares of the basic materials company's stock valued at $1,921,000 after buying an additional 236,212 shares during the period. Institutional investors and hedge funds own 79.04% of the company's stock.

Wall Street Analyst Weigh In

AVD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of American Vanguard from a "hold" rating to a "buy" rating in a research note on Saturday. Lake Street Capital decreased their target price on shares of American Vanguard from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, June 9th.

About American Vanguard

American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the United States and internationally. It manufactures and formulates chemicals, including insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.