Zacks Investment Research Upgrades Ampco-Pittsburgh (AP) to Hold
Ampco-Pittsburgh (NYSE:AP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors 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 lowered shares of Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.00.
Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data 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). Ampco-Pittsburgh had a negative return on equity of 13.75% and a negative net margin of 12.67%. The company had revenue of $103.89 million during the quarter, compared to analyst estimates of $109.00 million. analysts forecast that Ampco-Pittsburgh will post -0.62 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers acquired a new stake in shares of Ampco-Pittsburgh in the 2nd quarter valued at $152,000. Teachers Advisors LLC raised its holdings in shares of Ampco-Pittsburgh by 29.6% in the 2nd quarter. Teachers Advisors LLC now owns 19,392 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 4,426 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Ampco-Pittsburgh by 6.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 22,487 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 1,324 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Ampco-Pittsburgh in the 2nd quarter valued at $205,000. Finally, 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 valued at $145,000 after purchasing an additional 2,615 shares in the last quarter. Institutional investors own 57.93% of the company’s stock.
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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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