Wall Street Zen Downgrades Ampco-Pittsburgh (NYSE:AP) to Hold

Key Points

• Wall Street Zen downgraded Ampco-Pittsburgh from a "buy" to a "hold" rating, reflecting a cautious outlook for the company.
• Ampco-Pittsburgh's stock is currently trading around $3.10, with a 12-month high of $3.99 and a low of $1.26, indicating volatility in its stock performance.
• Institutional investors hold 49.16% of Ampco-Pittsburgh's stock, with recent changes in positions from significant firms such as Wealth Enhancement Advisory Services and Ameriprise Financial.

Ampco-Pittsburgh (NYSE:AP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Ampco-Pittsburgh Price Performance

AP traded down $0.03 on Friday, hitting $3.32. 13,993 shares of the company's stock were exchanged, compared to its average volume of 51,715. Ampco-Pittsburgh has a fifty-two week low of $1.26 and a fifty-two week high of $3.99. 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 50-day moving average price of $3.20 and a 200-day moving average price of $2.56. The stock has a market cap of $66.70 million, a price-to-earnings ratio of 15.09 and a beta of 0.89.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bailard Inc. purchased a new position in shares of Ampco-Pittsburgh during the 1st quarter worth $27,000. Ameriprise Financial Inc. raised its holdings in shares of Ampco-Pittsburgh by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company's stock worth $2,266,000 after acquiring an additional 5,020 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ampco-Pittsburgh during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 49.16% of the company's stock.

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.