Ampco-Pittsburgh (NYSE:AP) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Ampco-Pittsburgh (NYSE:AP) from a buy rating to a hold rating in a research report report published on Saturday morning.

Ampco-Pittsburgh Trading Up 9.5%

Shares of AP opened at $3.40 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.92 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $68.21 million, a P/E ratio of 15.43 and a beta of 0.89. The stock’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $2.56. Ampco-Pittsburgh has a twelve month low of $1.26 and a twelve month high of $3.99.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Monday, May 12th. The industrial products company reported $0.06 earnings per share for the quarter. The business had revenue of $104.27 million for the quarter. Ampco-Pittsburgh had a return on equity of 5.89% and a net margin of 1.04%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Ampco-Pittsburgh in the second quarter valued at about $32,000. Bailard Inc. purchased a new position in Ampco-Pittsburgh in the first quarter valued at about $27,000. Finally, Ameriprise Financial Inc. raised its position in Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock valued at $2,266,000 after purchasing an additional 5,020 shares during the period. 49.16% of the stock is owned by hedge funds and other institutional investors.

Ampco-Pittsburgh Company Profile

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.