Wall Street Zen Upgrades AMREP (NYSE:AXR) to Sell

Key Points

• Wall Street Zen upgraded AMREP from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with a $22.00 price target after Freedom Broker lowered its target from $26.00.
• AMREP’s shares opened at $20.70, below both the $22.55 50-day average and $24.88 200-day average. The company’s latest quarterly results missed estimates, reporting $0.05 in EPS versus expectations of $0.44 and revenue of $6.05 million versus $14.27 million expected.
• AMREP’s CFO sold 4,000 shares, reducing her ownership by 37.83%; insiders own 37.40% of the company, while institutional investors and hedge funds hold 59.85%.

AMREP (NYSE:AXR - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

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

AMREP Trading Down 0.1%

Shares of AMREP stock opened at $20.70 on Friday. AMREP has a twelve month low of $17.61 and a twelve month high of $29.01. The stock has a market cap of $110.12 million, a price-to-earnings ratio of 19.17 and a beta of 1.15. The company has a fifty day moving average price of $22.55 and a 200 day moving average price of $24.88.

AMREP (NYSE:AXR - Get Free Report) last issued its quarterly earnings data 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). AMREP had a return on equity of 4.21% and a net margin of 14.31%. The company had revenue of $6.05 million for the quarter, compared to analyst estimates of $14.27 million.

Insider Activity

In related news, CFO Adrienne Uleau sold 4,000 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 6,574 shares of the company's stock, valued at $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. Company insiders own 37.40% of the company's stock.

Institutional Investors Weigh In On AMREP

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

AMREP Company Profile

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.

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