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

Wall Street Zen upgraded shares of AMREP (NYSE:AXR) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

AMREP Price Performance

Shares of AXR stock opened at $24.04 on Monday. AMREP has a 12-month low of $17.60 and a 12-month high of $39.67. The firm has a market capitalization of $127.65 million, a price-to-earnings ratio of 9.69 and a beta of 1.26. The business has a 50 day simple moving average of $23.02 and a 200 day simple moving average of $22.09.

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

Institutional Investors Weigh In On AMREP

A number of institutional investors have recently added to or reduced their stakes in AXR. Gate City Capital Management LLC lifted its position in AMREP by 271.0% in the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock worth $2,168,000 after purchasing an additional 75,661 shares during the period. Truffle Hound Capital LLC lifted its position in AMREP by 129.0% in the second quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock worth $2,397,000 after purchasing an additional 64,524 shares during the period. Robotti Robert lifted its position in AMREP by 4.6% in the first quarter. Robotti Robert now owns 524,407 shares of the business services provider’s stock worth $10,514,000 after purchasing an additional 22,990 shares during the period. Koss Olinger Consulting LLC acquired a new stake in AMREP in the first quarter worth approximately $434,000. Finally, Cerity Partners LLC lifted its position in AMREP by 8.1% in the first quarter. Cerity Partners LLC now owns 171,124 shares of the business services provider’s stock worth $3,431,000 after purchasing an additional 12,767 shares during the period. 59.85% of the stock is currently owned by institutional investors and hedge funds.

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.