Atlantic Securities Initiates Coverage on Ametek (AME)
Equities research analysts at Atlantic Securities assumed coverage on shares of Ametek (NYSE:AME) in a research note issued to investors on Thursday, American Banking and Market News reports. The firm set an “overweight” rating on the stock.
Ametek (NYSE:AME) opened at 45.14 on Thursday. Ametek has a 1-year low of $32.67 and a 1-year high of $48.01. The stock has a 50-day moving average of $44.89 and a 200-day moving average of $43.53. The company has a market cap of $11.024 billion and a price-to-earnings ratio of 22.68.
Ametek (NYSE:AME) last announced its earnings results on Wednesday, August 7th. The company reported $0.52 EPS for the quarter, meeting the Thomson Reuters 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. Analysts expect that Ametek will post $2.09 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AME. Analysts at Jefferies Group raised their price target on shares of Ametek from $52.00 to $53.00 in a research note to investors on Monday, September 30th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Ametek 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. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Ametek 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ametek presently has a consensus rating of “Buy” and a consensus target price of $49.17.
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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