Ametek Stock Rating Reaffirmed by Jefferies Group (AME)
Ametek (NYSE:AME)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research report issued to clients and investors on Monday, Stock Ratings Network reports. They currently have a $53.00 price objective on the stock, up from their previous price objective of $52.00. Jefferies Group’s price objective would suggest a potential upside of 16.13% from the stock’s previous close.
The analysts wrote, “We sponsored investor meetings with the CEO Frank Hermance and Head of IR Kevin Coleman at AME’s HQ in Berwyn, PA. We sensed organic sales are improving, but very slowly. It also appears AME may have significant acquisition activity in 4Q13. We believe both factors are catalysts for the stock. AME is one of our top picks.”
A number of other analysts have also recently weighed in on AME. Analysts at RBC Capital raised their price target on shares of Ametek (NYSE:AME) from $46.00 to $52.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Ametek (NYSE:AME) from $46.00 to $53.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird downgraded shares of Ametek (NYSE:AME) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, August 8th. They now have a $45.00 price target on the stock, up previously from $44.00. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ametek currently has an average rating of “Buy” and an average target price of $47.57.
Shares of Ametek (NYSE:AME) opened at 45.64 on Monday. Ametek has a 52-week low of $32.67 and a 52-week high of $48.01. The stock has a 50-day moving average of $44.65 and a 200-day moving average of $43.31. The company has a market cap of $11.146 billion and a price-to-earnings ratio of 22.93.
Ametek (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $878.80 million for the quarter, compared to the consensus estimate of $892.00 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that Ametek will post $2.09 earnings per share for the current fiscal year.
In other Ametek news, VP William Eginton sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $46.07, for a total transaction of $1,151,750.00. Following the sale, the vice president now directly owns 17,360 shares in the company, valued at approximately $799,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AMETEK, Inc (NYSE:AME) is a global manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America.
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