AMETEK (NYSE:AME – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $134.00 target price on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 3.08% from the stock’s previous close.
According to Zacks, “AMETEK is riding on acquisition benefits. The Magnetrol International, and Crank Software buyouts are driving growth in the Electronic Instruments segment. Benefits from Pacific Design Technologies acquisition continues to aid the Electromechanical segment. Further, rising demand for precision motion control solutions remains a tailwind for the Electromechanical segment. Notably, AMETEK’s proper execution of the four core growth strategies — operational excellence, global market expansion, investments in product development and acquisitions, remains a positive. Further, the AMETEK Growth Model continues to contribute well. The stock has outperformed its industry on a year-to-date basis. However, disruptions caused by the coronavirus pandemic remain headwinds. Further, high goodwill associated with aggressive acquisition strategy are risks.”
A number of other equities analysts have also recently issued reports on the stock. StockNews.com assumed coverage on shares of AMETEK in a research report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp cut their price objective on AMETEK from $160.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. Finally, Morgan Stanley lowered their target price on AMETEK from $159.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $150.30.
AME traded up $2.71 during trading on Tuesday, hitting $129.99. 20,976 shares of the stock traded hands, compared to its average volume of 1,037,270. The business has a 50 day moving average price of $130.92 and a 200 day moving average price of $135.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.87. AMETEK has a twelve month low of $121.80 and a twelve month high of $148.07. The company has a market cap of $30.05 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.50 and a beta of 1.31.
AMETEK (NYSE:AME – Get Rating) last announced its quarterly earnings data on Thursday, February 3rd. The technology company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.06. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. AMETEK had a return on equity of 17.45% and a net margin of 17.85%. AMETEK’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS. On average, equities research analysts predict that AMETEK will post 5.4 earnings per share for the current year.
In other AMETEK news, Director Thomas A. Amato sold 615 shares of AMETEK stock in a transaction on Monday, March 28th. The shares were sold at an average price of $133.03, for a total value of $81,813.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony James Conti sold 5,160 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $133.37, for a total transaction of $688,189.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of AME. CVA Family Office LLC acquired a new stake in AMETEK in the 4th quarter valued at $25,000. Icapital Wealth LLC acquired a new position in shares of AMETEK during the first quarter valued at about $32,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of AMETEK during the fourth quarter worth about $35,000. Intelligent Financial Strategies acquired a new stake in shares of AMETEK in the 4th quarter worth about $35,000. Finally, Consolidated Planning Corp acquired a new position in AMETEK during the 3rd quarter valued at about $38,000. Institutional investors own 86.03% of the company’s stock.
About AMETEK (Get Rating)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company’s EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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