Ampco-Pittsburgh (NYSE:AP) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Ampco-Pittsburgh Corporation (NYSE:AP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.17 and traded as high as $11.71. Ampco-Pittsburgh shares last traded at $11.0270, with a volume of 181,906 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Ampco-Pittsburgh from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Ampco-Pittsburgh Price Performance

The business’s 50 day moving average is $9.66 and its two-hundred day moving average is $7.17. The firm has a market capitalization of $224.13 million, a PE ratio of -3.28 and a beta of 1.23. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.75 and a quick ratio of 1.01.

Ampco-Pittsburgh (NYSE:AP) last announced its earnings results on Tuesday, May 12th. The industrial products company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $103.13 million during the quarter, compared to analysts’ expectations of $84.90 million. Ampco-Pittsburgh had a negative net margin of 15.53% and a negative return on equity of 7.56%.

Insiders Place Their Bets

In related news, CEO Brett Mcbrayer bought 3,300 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $9.03 per share, with a total value of $29,799.00. Following the completion of the purchase, the chief executive officer directly owned 557,694 shares of the company’s stock, valued at $5,035,976.82. This trade represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 23.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently bought and sold shares of AP. Jane Street Group LLC purchased a new stake in Ampco-Pittsburgh in the second quarter valued at approximately $30,000. Group One Trading LLC purchased a new stake in Ampco-Pittsburgh in the second quarter valued at approximately $43,000. PNC Financial Services Group Inc. grew its position in Ampco-Pittsburgh by 164.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 4,100 shares during the last quarter. Belvedere Trading LLC bought a new position in Ampco-Pittsburgh during the fourth quarter valued at approximately $55,000. Finally, Citadel Advisors LLC bought a new position in Ampco-Pittsburgh during the third quarter valued at approximately $72,000. 49.16% of the stock is owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation is a U.S.-based specialty metals manufacturer that produces cast and forged components for a range of industrial markets. The company’s primary offerings include custom-designed forged rolls, grinding rolls and specialty bars for the steel and metal processing industries. In addition, Ampco-Pittsburgh supplies precision couplings, gears and die components for original equipment manufacturers in sectors such as mining, power generation and heavy machinery.

The company operates multiple production facilities in North America, where it employs advanced melting, heat-treating and machining processes to deliver components with tight tolerances and enhanced wear resistance.