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Ampco-Pittsburgh Corporation Stock Upgraded (AP)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (TheStreet) -- Ampco-Pittsburgh Corporation (NYSE:AP) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Machinery industry. The net income increased by 89.2% when compared to the same quarter one year prior, rising from $1.75 million to $3.32 million.
  • AP's debt-to-equity ratio is very low at 0.07 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, AP has a quick ratio of 1.76, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Net operating cash flow has significantly increased by 312.23% to $10.97 million when compared to the same quarter last year. In addition, AMPCO-PITTSBURGH CORP has also vastly surpassed the industry average cash flow growth rate of 16.97%.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 12.7%. Since the same quarter one year prior, revenues fell by 10.8%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • AMPCO-PITTSBURGH CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past two years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, AMPCO-PITTSBURGH CORP reported lower earnings of $0.81 versus $2.05 in the prior year.
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Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacturing and selling custom designed engineering products in the United States and internationally. It operates in two segments, Forged and Cast Rolls, and Air and Liquid Processing. The company has a P/E ratio of 23.9, above the S&P 500 P/E ratio of 17.7. Ampco-Pittsburgh has a market cap of $197.4 million and is part of the industrial goods sector and industrial industry. Shares are down 4.6% year to date as of the close of trading on Wednesday.

You can view the full Ampco-Pittsburgh Ratings Report or get investment ideas from our investment research center.

-- Written by a member of TheStreet Ratings Staff

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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