How Analysts Feel About Ampco-Pittsburgh Corporation (AP) After Forming Double Bottom Chart Pattern?

May 17, 2018 - By Joseph Arnett

Investors sentiment increased to 1.41 in 2017 Q4. Its up 0.15, from 1.26 in 2017Q3. It is positive, as 8 investors sold Ampco-Pittsburgh Corporation shares while 14 reduced holdings. 7 funds opened positions while 24 raised stakes. 6.89 million shares or 3.13% less from 7.11 million shares in 2017Q3 were reported.
Tiaa Cref Inv Mgmt Limited Liability Company has 0% invested in Ampco-Pittsburgh Corporation (NYSE:AP) for 24,141 shares. Invesco Ltd has invested 0% of its portfolio in Ampco-Pittsburgh Corporation (NYSE:AP). Rbf Cap Limited Com, a California-based fund reported 50,656 shares. 673,086 were reported by Dimensional Fund Advisors Limited Partnership. Macquarie Gp stated it has 0% in Ampco-Pittsburgh Corporation (NYSE:AP). Quantum Mngmt reported 80,795 shares or 0.24% of all its holdings. 13,852 were reported by California State Teachers Retirement Systems. Deutsche Bankshares Ag has 0% invested in Ampco-Pittsburgh Corporation (NYSE:AP). Geode Capital Management Ltd Llc holds 0% or 67,981 shares in its portfolio. The New York-based Teton Advisors has invested 0.54% in Ampco-Pittsburgh Corporation (NYSE:AP). Renaissance Technologies Ltd Liability Corp has invested 0% in Ampco-Pittsburgh Corporation (NYSE:AP). Pnc Fincl Gp Inc invested in 2,500 shares. Vanguard holds 476,783 shares or 0% of its portfolio. Tower Research Ltd Com (Trc) has invested 0.01% in Ampco-Pittsburgh Corporation (NYSE:AP). Schwab Charles Invest Mngmt holds 0% or 18,900 shares in its portfolio.

Since January 29, 2018, it had 0 buys, and 34 selling transactions for $1.56 million activity.

The chart of Ampco-Pittsburgh Corporation (AP) shows a double bottom with $9.31 target or 4.00 % below today’s $9.70 share price. The 5 months chart pattern indicates high risk for the $119.91 million company. It was reported on May, 17 by If the $9.31 price target is reached, the company will be worth $4.80 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.02% or $0.2 during the last trading session, reaching $9.7. About 9,212 shares traded. Ampco-Pittsburgh Corporation (NYSE:AP) has declined 34.18% since May 17, 2017 and is downtrending. It has underperformed by 45.73% the S&P500.

Analysts await Ampco-Pittsburgh Corporation (NYSE:AP) to report earnings on August, 14. They expect $0.09 EPS, up 156.25 % or $0.25 from last year’s $-0.16 per share. AP’s profit will be $1.11M for 26.94 P/E if the $0.09 EPS becomes a reality. After $0.08 actual EPS reported by Ampco-Pittsburgh Corporation for the previous quarter, Wall Street now forecasts 12.50 % EPS growth.

Ampco-Pittsburgh Corporation, together with its subsidiaries, makes and sells custom designed engineering products to commercial and industrial users worldwide. The company has market cap of $119.91 million. It operates in two divisions, Forged and Cast Engineered Products, and Air and Liquid Processing. It currently has negative earnings. 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 gas and oil, and the aluminum and plastic extrusion industries; and cast rolls for hot and cold strip mills, medium/heavy section mills, and plate mills in various iron and steel qualities.

Ampco-Pittsburgh Corporation (NYSE:AP) Institutional Positions Chart

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