Analysts Expect Ampco-Pittsburgh Corp (NYSE:AP) to Post ($0.20) Earnings Per Share

Ampco-Pittsburgh Corp (NYSE:AP) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Ampco-Pittsburgh’s rating score has declined by 200% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus price target of $10.00 for the company and are expecting that the company will post ($0.20) EPS for the current quarter, according to Zacks. Zacks has also given Ampco-Pittsburgh an industry rank of 158 out of 255 based on the ratings given to its competitors.

AP has been the subject of several analyst reports. Zacks Investment Research lowered Ampco-Pittsburgh from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 15th. ValuEngine upgraded Ampco-Pittsburgh from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Janney Montgomery Scott lowered Ampco-Pittsburgh from a “buy” rating to a “neutral” rating in a research report on Monday, August 13th.

In other news, Director Carl H. Pforzheimer II purchased 6,869 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $50,899.29. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at $222,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its stake 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 worth $15,346,000 after purchasing an additional 58,565 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ampco-Pittsburgh by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 747,324 shares of the industrial products company’s stock worth $7,660,000 after purchasing an additional 31,561 shares in the last quarter. Teton Advisors Inc. lifted its stake in Ampco-Pittsburgh by 9.1% during the first quarter. Teton Advisors Inc. now owns 515,000 shares of the industrial products company’s stock worth $4,584,000 after purchasing an additional 43,156 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Ampco-Pittsburgh by 5.5% during the second quarter. Renaissance Technologies LLC now owns 289,800 shares of the industrial products company’s stock worth $2,970,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Quantum Capital Management lifted its stake in Ampco-Pittsburgh by 30.6% during the second quarter. Quantum Capital Management now owns 178,415 shares of the industrial products company’s stock worth $1,829,000 after purchasing an additional 41,853 shares in the last quarter. Institutional investors own 54.73% of the company’s stock.

Ampco-Pittsburgh stock traded up $0.20 during mid-day trading on Tuesday, hitting $7.25. The company’s stock had a trading volume of 60,411 shares, compared to its average volume of 37,719. The firm has a market capitalization of $83.69 million, a price-to-earnings ratio of -8.53 and a beta of 1.71. Ampco-Pittsburgh has a 1 year low of $6.30 and a 1 year high of $18.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 1.52.

Ampco-Pittsburgh (NYSE:AP) last issued its quarterly earnings data on Friday, August 10th. The industrial products company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.33). The business had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $116.00 million. Ampco-Pittsburgh had a negative return on equity of 3.67% and a negative net margin of 1.62%. analysts forecast that Ampco-Pittsburgh will post -0.22 EPS for the current year.

About Ampco-Pittsburgh

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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