Ampco-Pittsburgh Corporation Stock Upgraded (AP)

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 compelling growth in net income, revenue growth and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

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 118.2% when compared to the same quarter one year prior, rising from -$9.65 million to $1.75 million.
  • AP's revenue growth trails the industry average of 28.6%. Since the same quarter one year prior, revenues slightly increased by 5.3%. Growth in the company's revenue appears to have helped boost the 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. The company has demonstrated a pattern of positive earnings per share growth over the past year. During the past fiscal year, AMPCO-PITTSBURGH CORP increased its bottom line by earning $2.05 versus $1.50 in the prior year.
  • AP has underperformed the S&P 500 Index, declining 10.48% from its price level of one year ago. Looking ahead, although the push and pull of the overall market trend could certainly make a critical difference, we do not see any strong reason stemming from the company's fundamentals that would cause a continuation of last year's decline. In fact, the stock is now selling for less than others in its industry in relation to its current earnings.
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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 through two segments, Forged and Cast Rolls, and Air and Liquid Processing. The company has a P/E ratio of 11.1, below the average industrial industry P/E ratio of 23 and below the S&P 500 P/E ratio of 17.7. Ampco-Pittsburgh has a market cap of $223.5 million and is part of the industrial goods sector and industrial industry. Shares are up 21.6% year to date as of the close of trading on Friday.

You can view the full Ampco-Pittsburgh Ratings Report or get investment ideas from our investment research center.
-- Written by a member of TheStreet RatingsStaff
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