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

AMREP (NYSE:AXR) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of AMREP in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

AMREP Trading Down 0.1%

NYSE:AXR opened at $24.06 on Friday. The company has a market cap of $127.74 million, a PE ratio of 9.70 and a beta of 1.26. AMREP has a twelve month low of $17.60 and a twelve month high of $39.67. The company’s 50 day moving average is $23.36 and its two-hundred day moving average is $22.44.

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

Hedge Funds Weigh In On AMREP

Several hedge funds and other institutional investors have recently bought and sold shares of AXR. Gate City Capital Management LLC increased its holdings in AMREP by 271.0% in the 2nd quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock worth $2,168,000 after buying an additional 75,661 shares during the period. Truffle Hound Capital LLC increased its holdings in AMREP by 129.0% in the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider’s stock worth $2,397,000 after buying an additional 64,524 shares during the period. Robotti Robert boosted its position in AMREP by 4.6% in the 1st 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 in the last quarter. Koss Olinger Consulting LLC purchased a new stake in AMREP in the 1st quarter worth approximately $434,000. Finally, Cerity Partners LLC boosted its position in AMREP by 8.1% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 59.85% of the company’s stock.

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.