Morgan Stanley Increases Ametek Price Target to $53.00 (AME)
Morgan Stanley boosted their price objective on shares of Ametek (NYSE:AME) from $52.00 to $53.00 in a research note issued on Thursday. Morgan Stanley’s target price would suggest a potential upside of 1.59% from the stock’s previous close.
Shares of Ametek (NYSE:AME) traded down 0.67% on Thursday, hitting $52.17. The stock had a trading volume of 607,986 shares. Ametek has a 52 week low of $42.23 and a 52 week high of $54.50. The stock’s 50-day moving average is $53.09 and its 200-day moving average is $52.19. The company has a market cap of $12.797 billion and a price-to-earnings ratio of 24.31.
Ametek (NYSE:AME) last released its earnings data on Tuesday, May 6th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.01. The company had revenue of $975.30 million for the quarter, compared to the consensus estimate of $966.20 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Ametek will post $2.37 earnings per share for the current fiscal year.
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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