Ampco-Pittsburgh (NYSE:AP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Ampco-Pittsburgh Corporation (NYSE:AP) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.48 and traded as high as $12.11. Ampco-Pittsburgh shares last traded at $11.8090, with a volume of 181,204 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Ampco-Pittsburgh Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 2.42. The company has a market cap of $240.08 million, a PE ratio of -3.51 and a beta of 1.23. The firm has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $7.48.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). The business had revenue of $103.13 million during the quarter, compared to analyst estimates of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 7.56% and a negative net margin of 15.53%.

Insiders Place Their Bets

In other Ampco-Pittsburgh news, CEO Brett Mcbrayer purchased 3,300 shares of the stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $9.03 per share, with a total value of $29,799.00. Following the completion of the acquisition, the chief executive officer owned 557,694 shares in the company, valued at $5,035,976.82. The trade was a 0.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 23.48% of the company’s stock.

Institutional Investors Weigh In On Ampco-Pittsburgh

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Ampco-Pittsburgh in the second quarter worth about $30,000. Group One Trading LLC acquired a new stake in Ampco-Pittsburgh in the second quarter worth about $43,000. PNC Financial Services Group Inc. boosted its holdings in Ampco-Pittsburgh by 164.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 4,100 shares in the last quarter. Belvedere Trading LLC acquired a new stake in Ampco-Pittsburgh in the fourth quarter worth about $55,000. Finally, Citadel Advisors LLC acquired a new stake in Ampco-Pittsburgh in the third quarter worth about $72,000. Institutional investors and hedge funds own 49.16% of the company’s stock.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.