StockNews.com Begins Coverage on AMREP (NYSE:AXR)

StockNews.com began coverage on shares of AMREP (NYSE:AXR – Get Rating) in a research report report published on Tuesday morning. The brokerage issued a buy rating on the business services provider’s stock.

AMREP Trading Up 2.1 %

Shares of AMREP stock opened at $14.25 on Tuesday. The business’s 50 day simple moving average is $14.15 and its 200-day simple moving average is $12.88. The stock has a market capitalization of $74.81 million, a price-to-earnings ratio of 2.56 and a beta of 0.97. AMREP has a twelve month low of $10.26 and a twelve month high of $16.72.

AMREP (NYSE:AXR – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The business services provider reported $3.12 earnings per share (EPS) for the quarter. AMREP had a return on equity of 35.19% and a net margin of 51.42%. The business had revenue of $9.12 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. Royal Bank of Canada boosted its holdings in AMREP by 11.1% during the third quarter. Royal Bank of Canada now owns 9,000 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 900 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of AMREP by 3.5% in the first quarter. Renaissance Technologies LLC now owns 119,800 shares of the business services provider’s stock valued at $1,676,000 after acquiring an additional 4,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AMREP by 17.4% in the third quarter. Vanguard Group Inc. now owns 174,387 shares of the business services provider’s stock valued at $1,967,000 after acquiring an additional 25,857 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of AMREP in the first quarter valued at approximately $1,655,000. 26.42% of the stock is owned by institutional investors and hedge funds.

AMREP Company Profile

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AMREP Corp. engages in the real estate businesses. It focuses on the entitlement, development and sale of land for residential, commercial, and industrial uses. The firm operates through the following segments: Land Development, Homebuilding, and Corporate. The company was founded in 1961 and is headquartered in Havertown, PA.