AMTEK (NYSE:AME) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, January 4th. The brokerage currently has a $82.00 target price on the technology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.96% from the stock’s previous close.
According to Zacks, “AMETEK's stock has outperformed the industry in the past 12 months. The company continues to reap the benefits from the execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions. This, in combination with a strong portfolio of differentiated businesses, is expected to help the company post better results, going forward. However, weakness in its balance sheet, integration issues and an overly high goodwill associated with an aggressive acquisition strategy are concerns. Foreign exchange headwinds remain.”
Several other research analysts have also issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of AMTEK in a research note on Friday, October 13th. Stifel Nicolaus restated a “buy” rating on shares of AMTEK in a research note on Monday, December 11th. Jefferies Group raised their price objective on shares of AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 13th. BMO Capital Markets restated a “buy” rating and set a $80.00 price objective on shares of AMTEK in a research note on Monday, December 11th. Finally, Oppenheimer raised their price objective on shares of AMTEK to $75.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $74.00.
Shares of AMTEK (AME) traded up $0.85 during trading on Thursday, hitting $74.57. 930,300 shares of the company traded hands, compared to its average volume of 1,217,488. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. The company has a market cap of $17,390.00, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.36. AMTEK has a 52 week low of $49.54 and a 52 week high of $74.58.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. AMTEK’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. equities analysts anticipate that AMTEK will post 2.58 EPS for the current fiscal year.
In related news, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value of $126,630.00. Following the transaction, the vice president now owns 19,947 shares of the company’s stock, valued at $1,403,271.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $71.77, for a total transaction of $1,863,508.05. Following the completion of the transaction, the insider now directly owns 200,548 shares in the company, valued at approximately $14,393,329.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,815 shares of company stock worth $2,209,220. Insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AME. Commonwealth Bank of Australia boosted its holdings in shares of AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares during the last quarter. BB&T Investment Services Inc. bought a new stake in AMTEK during the 2nd quarter worth approximately $107,000. Acropolis Investment Management LLC bought a new stake in AMTEK during the 4th quarter worth approximately $108,000. Zions Bancorporation bought a new stake in AMTEK during the 3rd quarter worth approximately $150,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in AMTEK during the 2nd quarter worth approximately $151,000. 84.76% of the stock is currently owned by institutional investors.
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AMTEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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