Ampco-Pittsburgh (NYSE:AP) Stock Bumped Up to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Ampco-Pittsburgh (NYSE:AP) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Ampco-Pittsburgh from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Ampco-Pittsburgh has an average rating of “Sell”.

Ampco-Pittsburgh Stock Down 4.2%

Shares of AP stock traded down $0.33 during mid-day trading on Friday, hitting $7.34. The company’s stock had a trading volume of 117,617 shares, compared to its average volume of 117,986. The stock has a market cap of $151.74 million, a price-to-earnings ratio of -2.62 and a beta of 1.34. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.96 and a current ratio of 1.68. Ampco-Pittsburgh has a 52-week low of $2.14 and a 52-week high of $12.81. The business has a 50-day moving average price of $8.24 and a 200 day moving average price of $8.77.

Ampco-Pittsburgh (NYSE:AP) last released its quarterly earnings data on Tuesday, November 10th. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.06). Ampco-Pittsburgh had a negative return on equity of 4.81% and a negative net margin of 13.11%. The business had revenue of $106.34 million during the quarter, compared to the consensus estimate of $84.90 million.

Hedge Funds Weigh In On Ampco-Pittsburgh

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Ampco-Pittsburgh by 164.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $44,000 after buying an additional 4,100 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Ampco-Pittsburgh during the second quarter valued at $106,000. Bank of America Corp DE purchased a new stake in Ampco-Pittsburgh during the second quarter valued at $121,000. Raffles Associates LP purchased a new stake in Ampco-Pittsburgh during the second quarter valued at $130,000. Finally, Deutsche Bank AG bought a new position in Ampco-Pittsburgh in the second quarter valued at about $140,000. 49.16% of the stock is owned by institutional investors.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation is a manufacturer of engineered industrial products, serving customers in industries such as metals production, power generation and other process markets. Founded in 1929, the company operates through its Forged and Cast Engineered Products and Air and Liquid Processing segments. The Forged and Cast Engineered Products segment makes rolls used in steel and aluminum mills, as well as other forged and cast products. The Air and Liquid Processing segment supplies equipment including centrifugal pumps, heat exchangers, finned-tube products and air-handling systems.