American Vanguard (NYSE:AVD) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of American Vanguard Corporation (NYSE:AVD) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.41 and traded as high as $5.80. American Vanguard shares last traded at $5.79, with a volume of 173,150 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVD. Wall Street Zen raised American Vanguard from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Lake Street Capital reduced their price target on American Vanguard from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, June 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $12.00.

American Vanguard Stock Performance

The company has a current ratio of 1.91, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average of $4.74 and a 200-day moving average of $4.41. The stock has a market capitalization of $164.47 million, a price-to-earnings ratio of -1.29 and a beta of 1.26.

American Vanguard (NYSE:AVD) last released its earnings results on Thursday, July 31st. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. American Vanguard had a negative return on equity of 26.21% and a negative net margin of 23.72%.The firm had revenue of $129.31 million for the quarter, compared to the consensus estimate of $130.00 million.

Institutional Investors Weigh In On American Vanguard

Several hedge funds have recently added to or reduced their stakes in AVD. Strs Ohio purchased a new stake in American Vanguard in the first quarter valued at $28,000. CWM LLC boosted its holdings in American Vanguard by 134.7% in the first quarter. CWM LLC now owns 9,425 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 5,410 shares during the last quarter. Aigen Investment Management LP purchased a new stake in American Vanguard in the first quarter valued at $44,000. Cerity Partners LLC purchased a new stake in American Vanguard in the first quarter valued at $48,000. Finally, XTX Topco Ltd purchased a new stake in American Vanguard in the second quarter valued at $57,000. 79.00% 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. It manufactures and formulates chemicals, including insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.