Zacks Investment Research upgraded shares of American Vanguard (NYSE:AVD) from a hold rating to a buy rating in a research note released on Friday. The brokerage currently has $19.00 price objective on the basic materials company’s stock.
According to Zacks, “American Vanguard Corporation is a diversified specialty and agricultural products company focusing on crop protection, turf and ornamental markets, and public health applications. The Company has continued its successful strategy of acquiring or licensing both new and well-established product lines that serve numerous high valued market niches. New product development and international expansion also provide an additional stimulus for growth. Through skilful marketing, diligent product registration, quality manufacturing, American Vanguard has positioned itself to capitalize on developing trends in modern agriculture. American Vanguard continues to meet the needs of a world demanding ever-increasing quantities of agricultural products for human food, animal feed, natural fibers and alternative fuels. “
Separately, ValuEngine lowered American Vanguard from a buy rating to a hold rating in a research report on Wednesday, August 8th.
NYSE AVD traded down $0.50 on Friday, reaching $16.74. The company had a trading volume of 72,464 shares, compared to its average volume of 68,174. The firm has a market capitalization of $505.74 million, a P/E ratio of 29.37 and a beta of 1.13. American Vanguard has a 52-week low of $15.31 and a 52-week high of $24.00. The company has a current ratio of 2.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30.
American Vanguard (NYSE:AVD) last released its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $112.00 million during the quarter, compared to analyst estimates of $119.20 million. American Vanguard had a return on equity of 6.90% and a net margin of 5.73%. American Vanguard’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. As a group, sell-side analysts predict that American Vanguard will post 0.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Wednesday, October 3rd were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, October 2nd. American Vanguard’s payout ratio is currently 14.04%.
Institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of American Vanguard during the 2nd quarter valued at $141,000. SG Americas Securities LLC purchased a new stake in shares of American Vanguard during the 2nd quarter valued at $219,000. OppenheimerFunds Inc. purchased a new stake in shares of American Vanguard during the 2nd quarter valued at $233,000. Teachers Retirement System of The State of Kentucky increased its position in shares of American Vanguard by 62.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 10,431 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 4,000 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of American Vanguard by 18.3% during the 2nd quarter. First Trust Advisors LP now owns 29,785 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 4,600 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.
About American Vanguard
American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the United States and internationally. The company manufactures and formulates chemicals, including insecticides, fungicides, herbicides, molluscicides, growth regulators, and soil fumigants in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.
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