Ampco-Pittsburgh (AP) Upgraded at Zacks Investment Research

Ampco-Pittsburgh (NYSE:AP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 9th.

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 cut Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.00.

Shares of Ampco-Pittsburgh (NYSE AP) opened at $13.60 on Tuesday. The firm has a market cap of $182.33, a price-to-earnings ratio of -3.21 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 one year low of $12.15 and a one year high of $18.59.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.15). The company had revenue of $103.89 million during the quarter, compared to analysts’ expectations of $109.00 million. Ampco-Pittsburgh had a negative return on equity of 13.75% and a negative net margin of 12.67%. analysts expect that Ampco-Pittsburgh will post -0.62 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in AP. Dimensional Fund Advisors LP lifted its stake in Ampco-Pittsburgh by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 633,265 shares of the industrial products company’s stock worth $11,020,000 after acquiring an additional 36,417 shares during the period. Macquarie Group Ltd. purchased a new stake in Ampco-Pittsburgh in the third quarter worth $132,000. ClariVest Asset Management LLC purchased a new stake in Ampco-Pittsburgh in the third quarter worth $220,000. Quantum Capital Management purchased a new stake in Ampco-Pittsburgh in the third quarter worth $1,143,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Ampco-Pittsburgh in the third quarter worth $840,000. 57.80% of the stock is owned by hedge funds and other institutional investors.

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About Ampco-Pittsburgh

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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