Ampco-Pittsburgh Corporation (AP) Rating Increased to Hold at ValuEngine
Ampco-Pittsburgh Corporation (NYSE:AP) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Ampco-Pittsburgh Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Janney Montgomery Scott upgraded Ampco-Pittsburgh Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $22.00 in a research note on Wednesday, August 9th.
Ampco-Pittsburgh Corporation (NYSE AP) opened at 15.45 on Friday. Ampco-Pittsburgh Corporation has a 12-month low of $9.34 and a 12-month high of $18.25. The company has a 50-day moving average price of $14.05 and a 200-day moving average price of $14.64. The firm’s market cap is $190.96 million.
Ampco-Pittsburgh Corporation (NYSE:AP) last released its earnings results on Tuesday, August 8th. The industrial products company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.04. The firm had revenue of $110.55 million for the quarter, compared to analysts’ expectations of $108 million. Ampco-Pittsburgh Corporation had a negative return on equity of 25.72% and a negative net margin of 18.73%. On average, analysts predict that Ampco-Pittsburgh Corporation will post ($0.48) earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Walthausen & Co. LLC boosted its stake in Ampco-Pittsburgh Corporation by 97.1% in the second 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. Teton Advisors Inc. boosted its stake in Ampco-Pittsburgh Corporation by 8.0% in the first quarter. Teton Advisors Inc. now owns 475,356 shares of the industrial products company’s stock valued at $6,679,000 after buying an additional 35,356 shares during the last quarter. State Street Corp boosted its stake in Ampco-Pittsburgh Corporation by 32.8% in the fourth quarter. State Street Corp now owns 116,240 shares of the industrial products company’s stock valued at $1,949,000 after buying an additional 28,742 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Ampco-Pittsburgh Corporation by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 572,893 shares of the industrial products company’s stock valued at $8,049,000 after buying an additional 27,996 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in Ampco-Pittsburgh Corporation during the second quarter valued at approximately $342,000. Hedge funds and other institutional investors own 57.04% of the company’s stock.
About Ampco-Pittsburgh Corporation
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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