Ampco-Pittsburgh Corporation (AP) Lowered to “Sell” at ValuEngine
ValuEngine downgraded shares of Ampco-Pittsburgh Corporation (NYSE:AP) from a hold rating to a sell rating in a research report report published on Tuesday.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ampco-Pittsburgh Corporation from a hold rating to a sell rating in a report on Thursday, November 9th. Desjardins reissued a buy rating on shares of Ampco-Pittsburgh Corporation in a report on Thursday, August 17th. Finally, Janney Montgomery Scott raised shares of Ampco-Pittsburgh Corporation from a neutral rating to a buy rating and upped their price target for the company from $16.00 to $22.00 in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Ampco-Pittsburgh Corporation currently has a consensus rating of Hold and an average target price of $22.00.
Ampco-Pittsburgh Corporation (NYSE:AP) opened at $13.55 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. Ampco-Pittsburgh Corporation has a 12-month low of $12.40 and a 12-month high of $18.59.
Ampco-Pittsburgh Corporation (NYSE:AP) last announced its earnings results on Monday, November 6th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.15). Ampco-Pittsburgh Corporation had a negative net margin of 12.67% and a negative return on equity of 13.75%. The company had revenue of $103.89 million during the quarter, compared to the consensus estimate of $109.00 million. sell-side analysts forecast that Ampco-Pittsburgh Corporation will post -0.62 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of AP. Walthausen & Co. LLC lifted its stake in Ampco-Pittsburgh Corporation by 97.1% during 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 in the last quarter. Quantum Capital Management purchased a new stake in Ampco-Pittsburgh Corporation during the third quarter valued at about $1,143,000. Wedge Capital Management L L P NC purchased a new stake in Ampco-Pittsburgh Corporation during the third quarter valued at about $840,000. Dimensional Fund Advisors LP lifted its stake in Ampco-Pittsburgh Corporation by 6.1% during the third 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 in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in Ampco-Pittsburgh Corporation during the second quarter valued at about $342,000. 56.76% of the stock is owned by institutional investors.
Ampco-Pittsburgh Corporation 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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