Ampco-Pittsburgh (AP) Posts Earnings Results, Misses Expectations By $0.01 EPS

Ampco-Pittsburgh (NYSE:AP) announced its quarterly earnings data on Thursday. The industrial products company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01), Fidelity Earnings reports. Ampco-Pittsburgh had a negative return on equity of 3.67% and a negative net margin of 1.62%. The company had revenue of $112.22 million for the quarter, compared to the consensus estimate of $109.00 million.

Shares of Ampco-Pittsburgh stock traded down $0.26 on Friday, reaching $4.81. 129,500 shares of the company were exchanged, compared to its average volume of 48,702. Ampco-Pittsburgh has a one year low of $3.55 and a one year high of $15.65. The stock has a market cap of $55.59 million, a P/E ratio of -5.46 and a beta of 2.08. The company has a quick ratio of 0.86, a current ratio of 1.52 and a debt-to-equity ratio of 0.26.

In related news, Director Carl H. Pforzheimer II acquired 6,869 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were bought at an average price of $7.41 per share, for a total transaction of $50,899.29. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $222,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.90% of the company’s stock.

A number of brokerages have recently issued reports on AP. ValuEngine upgraded Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research cut Ampco-Pittsburgh from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Finally, Janney Montgomery Scott cut Ampco-Pittsburgh from a “buy” rating to a “neutral” rating in a research note on Monday, August 13th.

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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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Earnings History for Ampco-Pittsburgh (NYSE:AP)

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