Ampco-Pittsburgh (NYSE:AP) Shares Break Above 200-Day Moving Average – What’s Next?

Ampco-Pittsburgh Corporation (NYSE:AP) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $9.07 and traded as high as $9.31. Ampco-Pittsburgh shares last traded at $8.87, with a volume of 100,287 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Ampco-Pittsburgh from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ampco-Pittsburgh presently has a consensus rating of “Sell”.

Ampco-Pittsburgh Price Performance

The stock has a 50 day moving average of $8.71 and a 200-day moving average of $9.08. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 2.49. The stock has a market capitalization of $199.95 million, a P/E ratio of -3.31 and a beta of 1.36.

Ampco-Pittsburgh (NYSE:AP) last released its earnings results on Tuesday, August 11th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $97.90 million during the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative return on equity of 3.53% and a negative net margin of 13.84%.

Institutional Investors Weigh In On Ampco-Pittsburgh

Large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in Ampco-Pittsburgh in the 2nd quarter worth about $106,000. Empowered Funds LLC bought a new stake in shares of Ampco-Pittsburgh during the second quarter valued at approximately $435,000. Raffles Associates LP bought a new stake in shares of Ampco-Pittsburgh during the second quarter valued at approximately $130,000. Bank of America Corp DE purchased a new stake in shares of Ampco-Pittsburgh in the second quarter valued at approximately $121,000. Finally, Meros Investment Management LP purchased a new stake in shares of Ampco-Pittsburgh in the second quarter valued at approximately $2,075,222. 49.16% of the stock is owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation (NYSE: AP) is a diversified industrial manufacturer headquartered in Pittsburgh, Pennsylvania. The company produces specialized equipment and engineered products used in steel production, industrial processing, energy, and other manufacturing applications.

Through its forged and cast engineered products operations, Ampco-Pittsburgh manufactures forged and cast steel rolls, open-die forgings, and related products for steel mills and other heavy industries. Its air and liquid processing operations provide heat-exchange equipment, air-handling systems, cooling products, and other engineered solutions designed to support industrial process and environmental-control applications.

Ampco-Pittsburgh traces its history to 1929 and serves customers in North America and international markets through manufacturing and sales operations.