Zacks: Analysts Set $21.00 Target Price for Ampco-Pittsburgh Corp (AP)

Shares of Ampco-Pittsburgh Corp (NYSE:AP) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus price target of $21.00 for the company and are anticipating that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also given Ampco-Pittsburgh an industry rank of 85 out of 265 based on the ratings given to its competitors.

AP has been the topic of a number of research analyst reports. Zacks Investment Research lowered Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. ValuEngine lowered Ampco-Pittsburgh from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.

In other news, major shareholder Louis Berkman Investment Co sold 2,532 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $12.05, for a total value of $30,510.60. Following the completion of the transaction, the insider now directly owns 1,420,780 shares in the company, valued at approximately $17,120,399. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 30,390 shares of company stock valued at $358,521 over the last quarter. Company insiders own 29.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth about $132,000. Nationwide Fund Advisors boosted 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 worth $145,000 after purchasing an additional 2,615 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth about $152,000. ClariVest Asset Management LLC purchased a new position in shares of Ampco-Pittsburgh in the 3rd quarter worth about $220,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 56.25% of the company’s stock.

Shares of Ampco-Pittsburgh (AP) traded up $0.20 during midday trading on Wednesday, reaching $10.50. The company’s stock had a trading volume of 39,478 shares, compared to its average volume of 36,122. The company has a market cap of $133.50, a price-to-earnings ratio of -2.48 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 0.98. Ampco-Pittsburgh has a fifty-two week low of $9.60 and a fifty-two week high of $18.59.

TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/14/zacks-analysts-set-21-00-target-price-for-ampco-pittsburgh-corp-ap.html.

About Ampco-Pittsburgh

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).

Get a free copy of the Zacks research report on Ampco-Pittsburgh (AP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ampco-Pittsburgh Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ampco-Pittsburgh and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply