Zacks: Ampco-Pittsburgh Corp (AP) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ampco-Pittsburgh Corp (NYSE:AP) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating. Ampco-Pittsburgh’s rating score has declined by 200% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a one year consensus target price of $5.00 for the company and are forecasting that the company will post ($0.55) EPS for the current quarter, according to Zacks. Zacks has also assigned Ampco-Pittsburgh an industry rank of 239 out of 255 based on the ratings given to its competitors.
AP has been the subject of several recent analyst reports. ValuEngine upgraded shares of Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Janney Montgomery Scott lowered shares of Ampco-Pittsburgh from a “buy” rating to a “neutral” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research lowered shares of Ampco-Pittsburgh from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th.
Ampco-Pittsburgh (NYSE:AP) last posted its earnings results on Friday, August 10th. The industrial products company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.33). Ampco-Pittsburgh had a negative return on equity of 3.67% and a negative net margin of 1.62%. The firm had revenue of $127.43 million during the quarter, compared to the consensus estimate of $116.00 million. On average, research analysts anticipate that Ampco-Pittsburgh will post -1.13 EPS for the current fiscal year.
In related news, Director Carl H. Pforzheimer II purchased 6,869 shares of Ampco-Pittsburgh stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average price of $7.41 per share, for a total transaction of $50,899.29. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at $222,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Ampco-Pittsburgh by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 715,763 shares of the industrial products company’s stock valued at $6,370,000 after purchasing an additional 42,677 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Ampco-Pittsburgh during the first quarter valued at about $659,000. LMR Partners LLP purchased a new stake in Ampco-Pittsburgh during the second quarter valued at about $271,000. Gamco Investors INC. ET AL lifted its holdings in Ampco-Pittsburgh by 4.1% during the second quarter. Gamco Investors INC. ET AL now owns 1,497,140 shares of the industrial products company’s stock valued at $15,346,000 after purchasing an additional 58,565 shares during the last quarter. Finally, 22NW LP lifted its holdings in Ampco-Pittsburgh by 33.2% during the second quarter. 22NW LP now owns 161,545 shares of the industrial products company’s stock valued at $1,656,000 after purchasing an additional 40,276 shares during the last quarter. Institutional investors own 53.24% of the company’s stock.
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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