Freedom Broker Lowers AMREP (NYSE:AXR) Price Target to $22.00

AMREP (NYSE:AXR) had its target price dropped by investment analysts at Freedom Broker from $26.00 to $22.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Freedom Broker’s target price points to a potential downside of 1.32% from the stock’s current price.

Separately, Weiss Ratings lowered AMREP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, AMREP currently has an average rating of “Hold” and an average target price of $22.00.

AMREP Price Performance

Shares of AMREP stock traded down $0.51 during trading hours on Tuesday, reaching $22.29. The company’s stock had a trading volume of 5,407 shares, compared to its average volume of 9,292. The firm has a 50 day moving average price of $23.64 and a 200-day moving average price of $25.36. AMREP has a one year low of $17.61 and a one year high of $29.01. The stock has a market cap of $118.60 million, a P/E ratio of 20.64 and a beta of 1.10.

AMREP (NYSE:AXR) last announced its quarterly 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). AMREP had a net margin of 14.31% and a return on equity of 4.23%. The business had revenue of $6.05 million during the quarter, compared to the consensus estimate of $14.27 million.

Insiders Place Their Bets

In other AMREP news, major shareholder James H. Dahl bought 3,075 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the completion of the transaction, the insider owned 501,708 shares in the company, valued at $12,833,690.64. This trade represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adrienne Uleau sold 4,000 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 37.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in AMREP during the 2nd quarter valued at about $45,000. Empowered Funds LLC purchased a new position in shares of AMREP during the second quarter worth approximately $1,225,000. JB Capital Partners LP bought a new stake in shares of AMREP during the second quarter valued at approximately $3,565,099. Robotti Robert bought a new stake in shares of AMREP during the second quarter valued at approximately $13,159,000. Finally, BlackRock Inc. purchased a new stake in shares of AMREP in the second quarter valued at approximately $561,000. Hedge funds and other institutional investors own 59.85% of the company’s stock.

AMREP Company Profile

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.