Today’s big question for investors is, “what’s going on with Ampco-Pittsburgh Corporation (NYSE:AP) stock? Its price is jumping 0.39 points, trading at $4.45 levels, and is up 9.66% from its previous close of $4.06. The shares seem to have an active trading volume day with a reported 156528 contracts so far this session. AP shares had a relatively better volume day versus average trading capacity of 48.29 million shares, but with a 10.78 million float and a 28.08% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AP stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 12.36% from where the AP share price has been trading recently which is between $3.9428 and $4.1141.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of AP earnings conference call or presentation 10-May-19 2:30pm GMT” and dated May 10, 2019.
During the recent trading session for Ampco-Pittsburgh Corporation (NYSE:AP), the company witnessed their stock rise $1.04 over a week and surge $1.17 from the price 20 days ago. When compared to their established 52-week high of $11.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/31/18. The recent low of $2.79 stood for a -59.89% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.08 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ampco-Pittsburgh Corporation, the two-week RSI stands at 80.88. This figure suggests that AP stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current AP readings is similarly very revealing as it has a stochastic reading of 91.92% at this stage. This figure means that AP share price today is being oversold.
Technical chart claims that Ampco-Pittsburgh Corporation (AP) would settle between $4.14/share to $4.21/share level. However, if the stock price goes below the $3.96 mark, then the market for Ampco-Pittsburgh Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $3.87 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.54. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Janney raised their recommendation on shares of AP from Neutral to Buy in their opinion released on August 09.
Moving on, AP stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.12 while for the average stock in the same group, the multiple is 3.23.