Ampco-Pittsburgh (NYSE:AP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued 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 lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.00.
Ampco-Pittsburgh (NYSE:AP) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.15). The firm 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%. equities research analysts anticipate that Ampco-Pittsburgh will post -0.62 EPS for the current year.
Several hedge funds have recently modified their holdings of AP. Macquarie Group Ltd. bought a new stake in shares of Ampco-Pittsburgh during the 3rd quarter valued at $132,000. Nationwide Fund Advisors grew its position in shares of Ampco-Pittsburgh by 36.4% during the 2nd quarter. Nationwide Fund Advisors now owns 9,804 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 2,615 shares during the period. Rhumbline Advisers bought a new stake in shares of Ampco-Pittsburgh during the 2nd quarter valued at $152,000. Ameriprise Financial Inc. bought a new position in Ampco-Pittsburgh in the 2nd quarter worth $205,000. Finally, ClariVest Asset Management LLC bought a new position in Ampco-Pittsburgh in the 3rd quarter worth $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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