Ampco-Pittsburgh (NYSE:AP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
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 report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.15). The firm had revenue of $103.89 million during the quarter, compared to analyst estimates of $109.00 million. Ampco-Pittsburgh had a negative net margin of 12.67% and a negative return on equity of 13.75%. sell-side analysts expect that Ampco-Pittsburgh will post -0.62 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of AP. Macquarie Group Ltd. acquired a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth approximately $132,000. Nationwide Fund Advisors raised its holdings in shares of Ampco-Pittsburgh by 36.4% in the 2nd quarter. Nationwide Fund Advisors now owns 9,804 shares of the industrial products company’s stock worth $145,000 after buying an additional 2,615 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth approximately $152,000. Ameriprise Financial Inc. acquired a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth approximately $205,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth approximately $220,000. 57.93% of the stock is owned by hedge funds and other institutional investors.
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Ampco-Pittsburgh 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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