AMREP (NYSE:AXR) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded AMREP to “strong sell.” Other firms also expressed caution, with Weiss Ratings lowering its rating and Freedom Broker cutting its price target to $22; the consensus rating remains “Hold.”
• AMREP shares opened at $21.55, down 1.8%, after the company reported quarterly EPS of $0.05 versus the $0.44 consensus estimate and revenue of $6.05 million compared with expectations of $14.27 million.
• Insider and institutional ownership remain significant. The CFO sold 4,000 shares, while insiders own 37.4% and institutional investors own 59.85% of the company.

AMREP (NYSE:AXR - Get Free Report) was downgraded by stock analysts at Wall Street Zen to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently commented on AXR. Weiss Ratings downgraded shares of AMREP from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, September 18th. Freedom Broker lowered their target price on AMREP from $26.00 to $22.00 and set a "hold" rating on the stock in a report on Tuesday, September 15th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.00.

AMREP Stock Down 1.8%

Shares of AXR opened at $21.55 on Friday. AMREP has a 52-week low of $17.61 and a 52-week high of $29.01. The stock has a market cap of $114.62 million, a PE ratio of 19.95 and a beta of 1.15. The firm's fifty day moving average is $22.77 and its two-hundred day moving average is $25.13.

AMREP (NYSE:AXR - Get Free Report) last issued its earnings results on Friday, September 11th. The business services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.39). The business had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million. AMREP had a net margin of 14.31% and a return on equity of 4.21%.

Insider Activity at AMREP

In related news, CFO Adrienne Uleau sold 4,000 shares of the company'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 transaction, the chief financial officer directly owned 6,574 shares in the company, valued at approximately $154,423.26. This represents a 37.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 added to or reduced their stakes in AXR. Allworth Financial LP purchased a new position in shares of AMREP during the 2nd quarter worth $45,000. Marquette Asset Management LLC acquired a new stake in shares of AMREP during the 2nd quarter worth about $164,000. BlackRock Inc. purchased a new stake in AMREP in the 2nd quarter valued at about $561,000. Empowered Funds LLC purchased a new stake in AMREP in the 2nd quarter valued at about $1,225,000. Finally, JB Capital Partners LP acquired a new position in AMREP in the second quarter valued at about $3,565,099. Hedge funds and other institutional investors own 59.85% of the company's stock.

About AMREP

AMREP Corporation is a diversified company that provides fulfillment services and develops real estate. Through its fulfillment operations, the company serves publishers, membership organizations, nonprofit groups and other businesses with subscription and product fulfillment, direct-mail distribution, data processing, customer-care support and related services.

AMREP's real estate business is conducted primarily through its AMREP Southwest subsidiary, which owns and develops residential and commercial land in and around Rio Rancho, New Mexico.

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