Ampco-Pittsburgh (AP) Gains But Lags Market: What You Should Know
Ampco-Pittsburgh (AP) closed the most recent trading day at $2.82, moving +0.36% from the previous trading session. This change lagged the S&P 500's 3.41% gain on the day. Elsewhere, the Dow gained 3.44%, while the tech-heavy Nasdaq added 2.58%.
Heading into today, shares of the steel maker had gained 10.63% over the past month, outpacing the Industrial Products sector's loss of 15.4% and the S&P 500's loss of 10.46% in that time.
AP will be looking to display strength as it nears its next earnings release. On that day, AP is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 191.67%. Meanwhile, our latest consensus estimate is calling for revenue of $103.30 million, down 3.9% from the prior-year quarter.
AP's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $401.90 million. These results would represent year-over-year changes of +2.7% and +1%, respectively.
It is also important to note the recent changes to analyst estimates for AP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 642.86% higher within the past month. AP is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that AP has a Forward P/E ratio of 7.39 right now. This represents a discount compared to its industry's average Forward P/E of 9.25.
The Metal Products - Procurement and Fabrication industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AP in the coming trading sessions, be sure to utilize Zacks.com.
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