Zacks Investment Research upgraded shares of Ampco-Pittsburgh (NYSE:AP) from a strong sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Ampco-Pittsburgh Corporation’s businesses are classified in three segments: Forged and Cast Rolls, Air and Liquid Processing, and Plastics Processing Machinery. “
Separately, ValuEngine lowered shares of Ampco-Pittsburgh from a hold rating to a sell rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $22.00.
Shares of Ampco-Pittsburgh (NYSE:AP) traded up $0.40 during midday trading on Tuesday, hitting $14.75. 21,279 shares of the stock were exchanged, compared to its average volume of 30,846. The company has a market capitalization of $177.39, a PE ratio of -3.48 and a beta of 1.46. Ampco-Pittsburgh has a 52 week low of $12.15 and a 52 week high of $18.59. The company has a current ratio of 1.68, a quick ratio of 0.98 and a debt-to-equity ratio of 0.30.
Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.15). The firm had revenue of $103.89 million for the quarter, compared to the consensus estimate of $109.00 million. Ampco-Pittsburgh had a negative return on equity of 13.75% and a negative net margin of 12.67%. analysts forecast that Ampco-Pittsburgh will post -0.62 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Ampco-Pittsburgh by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 633,265 shares of the industrial products company’s stock valued at $11,020,000 after buying an additional 36,417 shares during the last quarter. Walthausen & Co. LLC increased its stake in Ampco-Pittsburgh by 97.1% in the 2nd quarter. Walthausen & Co. LLC now owns 318,444 shares of the industrial products company’s stock valued at $4,697,000 after buying an additional 156,850 shares during the last quarter. State Street Corp increased its stake in Ampco-Pittsburgh by 10.4% in the 2nd quarter. State Street Corp now owns 128,827 shares of the industrial products company’s stock valued at $1,897,000 after buying an additional 12,087 shares during the last quarter. Northern Trust Corp increased its stake in Ampco-Pittsburgh by 7.4% in the 2nd quarter. Northern Trust Corp now owns 104,638 shares of the industrial products company’s stock valued at $1,543,000 after buying an additional 7,212 shares during the last quarter. Finally, Quantum Capital Management acquired a new stake in Ampco-Pittsburgh in the 3rd quarter valued at $1,143,000. Institutional investors and hedge funds own 57.93% of the company’s stock.
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Ampco-Pittsburgh Company Profile
Ampco-Pittsburgh Corporation is engaged in manufacturing and selling specialty metal products and customized equipment utilized by industry throughout the world. The Company operates through two segments: the Forged and Cast Engineered Products segment, and the Air and Liquid Processing segment. The Forged and Cast Engineered Products segment consists of Union Electric Steel Corporation (Union Electric Steel or UES) and Union Electric Steel UK Limited (UES-UK).
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