AMREP (NYSE:AXR) Raised to "Buy" at Wall Street Zen

Key Points

• AMREP (NYSE:AXR) has been upgraded from a "hold" to a "buy" rating by research analysts at Wall Street Zen.
• The company reported $0.87 EPS with a net margin of 27.54% for the last quarter, alongside a revenue of $17.85 million.
• Institutional investors own approximately 59.85% of AMREP's stock, with several firms significantly increasing their stakes in recent quarters.

AMREP (NYSE:AXR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

AMREP Stock Up 11.4%

AMREP stock traded up $2.87 during mid-day trading on Friday, reaching $27.97. 27,124 shares of the company's stock were exchanged, compared to its average volume of 12,619. The business's fifty day simple moving average is $22.54 and its 200 day simple moving average is $21.86. The firm has a market capitalization of $148.49 million, a PE ratio of 11.28 and a beta of 1.15. AMREP has a one year low of $17.60 and a one year high of $39.67.

AMREP (NYSE:AXR - Get Free Report) last issued its quarterly earnings results on Tuesday, September 9th. The business services provider reported $0.87 EPS for the quarter. The business had revenue of $17.85 million for the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.

Institutional Trading of AMREP

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in AMREP during the first quarter worth $46,000. Lazard Asset Management LLC bought a new stake in shares of AMREP in the fourth quarter valued at $137,000. Jane Street Group LLC raised its stake in shares of AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock valued at $208,000 after buying an additional 3,077 shares during the period. Ritholtz Wealth Management raised its stake in shares of AMREP by 42.1% in the second quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider's stock valued at $364,000 after buying an additional 5,144 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of AMREP in the first quarter valued at $434,000. 59.85% of the stock is currently owned by institutional investors.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.