American Vanguard (NYSE:AVD) Releases Quarterly 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) issued its earnings results on Thursday. The basic materials company reported ($0.03) earnings per share (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 analyst estimates of $130.00 million. American Vanguard had a negative net margin of 23.72% and a negative return on equity of 25.41%.

American Vanguard Stock Up 9.6%

NYSE AVD traded up $0.37 during trading hours on Friday, reaching $4.23. 601,195 shares of the company's stock were exchanged, compared to its average volume of 240,275. The company's 50-day moving average is $4.04 and its two-hundred day moving average is $4.48. American Vanguard has a one year low of $3.28 and a one year high of $8.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 1.77. The company has a market capitalization of $119.41 million, a price-to-earnings ratio of -0.95 and a beta of 1.23.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen raised shares of American Vanguard from a "sell" rating to a "hold" rating in a research note on Sunday, June 15th. Lake Street Capital cut their price target on shares of American Vanguard from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, June 9th.

Institutional Trading of American Vanguard

A number of large investors have recently bought and sold shares of AVD. AQR Capital Management LLC increased its stake in American Vanguard by 117.8% during the 1st quarter. AQR Capital Management LLC now owns 436,687 shares of the basic materials company's stock worth $1,921,000 after purchasing an additional 236,212 shares in the last quarter. Acadian Asset Management LLC boosted its position in 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 last quarter. Jane Street Group LLC boosted its position in 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 last quarter. Finally, Strs Ohio acquired a new position in American Vanguard during the 1st quarter worth approximately $28,000. 79.04% of the stock is owned by institutional investors.

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.

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