Ampco-Pittsburgh Corp (AP) Given $10.00 Consensus Price Target by Analysts
Shares of Ampco-Pittsburgh Corp (NYSE:AP) have been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation. Ampco-Pittsburgh’s rating score has declined by 200% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a one year consensus price objective of $10.00 for the company and are forecasting that the company will post ($0.20) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ampco-Pittsburgh an industry rank of 160 out of 255 based on the ratings given to its competitors.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded shares of Ampco-Pittsburgh from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 15th. Finally, Janney Montgomery Scott downgraded shares of Ampco-Pittsburgh from a “buy” rating to a “neutral” rating in a research report on Monday, August 13th.
Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings results on Friday, August 10th. The industrial products company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.33). Ampco-Pittsburgh had a negative return on equity of 3.67% and a negative net margin of 1.62%. The company had revenue of $127.43 million for the quarter, compared to analyst estimates of $116.00 million. research analysts predict that Ampco-Pittsburgh will post -0.22 EPS for the current year.
In other Ampco-Pittsburgh news, Director Carl H. Pforzheimer II acquired 6,869 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was purchased at an average price of $7.41 per share, with a total value of $50,899.29. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $222,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AP. Deutsche Bank AG boosted its holdings in Ampco-Pittsburgh by 117.3% in the fourth quarter. Deutsche Bank AG now owns 19,599 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 10,578 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Ampco-Pittsburgh by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 1,438,575 shares of the industrial products company’s stock worth $12,803,000 after purchasing an additional 10,246 shares during the period. Teton Advisors Inc. boosted its holdings in Ampco-Pittsburgh by 9.1% in the first quarter. Teton Advisors Inc. now owns 515,000 shares of the industrial products company’s stock worth $4,584,000 after purchasing an additional 43,156 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ampco-Pittsburgh by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 715,763 shares of the industrial products company’s stock worth $6,370,000 after purchasing an additional 42,677 shares during the period. Finally, Fairfax Financial Holdings Ltd Can lifted its stake in Ampco-Pittsburgh by 22.2% in the first quarter. Fairfax Financial Holdings Ltd Can now owns 165,000 shares of the industrial products company’s stock valued at $1,469,000 after buying an additional 30,000 shares during the last quarter. 54.73% of the stock is owned by hedge funds and other institutional investors.
Ampco-Pittsburgh Company Profile
Ampco-Pittsburgh Corporation, together with its subsidiaries, manufactures and sells custom designed engineering products to commercial and industrial users worldwide. The company operates in two segments, Forged and Cast Engineered Products; and Air and Liquid Processing. The Forged and Cast Engineered Products segment produces forged hardened steel rolls that are used in cold rolling by producers of steel, aluminum, and other metals; ingot and open-die forged products for use in the oil and gas, and the aluminum and plastic extrusion industries; and cast rolls for hot and cold strip mills, medium/heavy section mills, hot strip finishing, roughing mills, and plate mills in various iron and steel qualities.
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