Ampco-Pittsburgh (NYSE:AP) Rating Lowered to Hold at Wall Street Zen

Ampco-Pittsburgh (NYSE:AP) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Ampco-Pittsburgh Stock Down 3.9%

AP stock opened at $2.93 on Monday. Ampco-Pittsburgh has a twelve month low of $1.61 and a twelve month high of $3.99. The company has a quick ratio of 0.91, a current ratio of 1.80 and a debt-to-equity ratio of 1.52. The firm has a market cap of $59.54 million, a PE ratio of -12.21 and a beta of 0.89. The business has a 50 day moving average of $3.20 and a 200 day moving average of $2.60.

Ampco-Pittsburgh (NYSE:AP) last posted its quarterly earnings data on Tuesday, August 12th. The industrial products company reported ($0.06) earnings per share for the quarter. Ampco-Pittsburgh had a negative net margin of 1.22% and a positive return on equity of 1.40%.

Hedge Funds Weigh In On Ampco-Pittsburgh

A number of institutional investors and hedge funds have recently modified their holdings of AP. Bailard Inc. purchased a new position in shares of Ampco-Pittsburgh in the 1st quarter worth $27,000. Jane Street Group LLC purchased a new position in shares of Ampco-Pittsburgh in the 2nd quarter worth $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in Ampco-Pittsburgh during the second quarter valued at $32,000. Group One Trading LLC purchased a new position in Ampco-Pittsburgh during the second quarter valued at $43,000. Finally, Geode Capital Management LLC lifted its position in Ampco-Pittsburgh by 2.8% during the second quarter. Geode Capital Management LLC now owns 162,066 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 4,339 shares in the last quarter. 49.16% of the stock is currently owned by hedge funds and other institutional investors.

About Ampco-Pittsburgh

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.