Zacks Investment Research upgraded shares of Ampco-Pittsburgh (NYSE:AP) from a strong sell rating to a hold rating in a report issued 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 research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $22.00.
Ampco-Pittsburgh (AP) traded up $0.40 on Tuesday, hitting $14.75. 21,279 shares of the stock were exchanged, compared to its average volume of 35,422. The stock has a market cap of $177.39, a price-to-earnings ratio of -3.49 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 0.98. Ampco-Pittsburgh has a 12-month low of $12.15 and a 12-month high of $18.59.
Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported ($0.18) EPS 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 analysts’ expectations of $109.00 million. Ampco-Pittsburgh had a negative net margin of 12.67% and a negative return on equity of 13.75%. research analysts forecast that Ampco-Pittsburgh will post -0.62 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Ampco-Pittsburgh by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 596,848 shares of the industrial products company’s stock worth $8,803,000 after acquiring an additional 23,955 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Ampco-Pittsburgh in the third quarter worth $840,000. Quantum Capital Management purchased a new position in Ampco-Pittsburgh in the third quarter worth $1,143,000. Nationwide Fund Advisors grew its position in Ampco-Pittsburgh by 36.4% in the second quarter. Nationwide Fund Advisors now owns 9,804 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Walthausen & Co. LLC grew its position in Ampco-Pittsburgh by 97.1% in the second quarter. Walthausen & Co. LLC now owns 318,444 shares of the industrial products company’s stock worth $4,697,000 after acquiring an additional 156,850 shares in the last quarter. Institutional investors own 57.93% of the company’s stock.
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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