AMREP (NYSE:AXR) Share Price Crosses Above 200 Day Moving Average of $12.84

AMREP Co. (NYSE:AXR – Get Rating)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.84 and traded as high as $14.20. AMREP shares last traded at $14.17, with a volume of 5,453 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of AMREP in a research note on Tuesday. They issued a “buy” rating for the company.

AMREP Price Performance

The business’s 50 day moving average price is $14.02 and its 200-day moving average price is $12.84. The company has a market cap of $74.39 million, a P/E ratio of 2.54 and a beta of 0.97.

AMREP (NYSE:AXR – Get Rating) last posted its quarterly earnings data on Monday, March 13th. The business services provider reported $3.12 earnings per share for the quarter. AMREP had a net margin of 51.42% and a return on equity of 35.19%. The firm had revenue of $9.12 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in AMREP by 11.1% in the 3rd quarter. Royal Bank of Canada now owns 9,000 shares of the business services provider’s stock worth $102,000 after purchasing an additional 900 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of AMREP during the 1st quarter valued at $1,655,000. Renaissance Technologies LLC raised its position in shares of AMREP by 3.5% during the 1st 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. Finally, Vanguard Group Inc. raised its position in shares of AMREP by 17.4% during the 3rd 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. Institutional investors own 26.42% of the company’s stock.

AMREP Company Profile

(Get Rating)

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.