KeyCorp Reaffirms “Buy” Rating for AMETEK (AME)
AMETEK (NYSE:AME)‘s stock had its “buy” rating reiterated by equities research analysts at KeyCorp in a research note issued to investors on Thursday. They currently have a $60.00 price objective on the stock, up from their previous price objective of $58.00. KeyCorp’s target price indicates a potential upside of 12.89% from the company’s current price.
In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $52.10, for a total value of $104,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
AME has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of AMETEK in a research note on Wednesday, August 13th. They now have a $54.00 price target on the stock. Separately, analysts at Oppenheimer reiterated an “outperform” rating on shares of AMETEK in a research note on Wednesday, August 6th. They now have a $59.00 price target on the stock, up previously from $57.00. Finally, analysts at Morgan Stanley raised their price target on shares of AMETEK from $52.00 to $53.00 in a research note on Thursday, July 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.50.
Shares of AMETEK (NYSE:AME) traded down 0.14% during mid-day trading on Thursday, hitting $53.075. The stock had a trading volume of 135,216 shares. AMETEK has a 52-week low of $42.23 and a 52-week high of $54.50. The stock has a 50-day moving average of $51.64 and a 200-day moving average of $52.1. The company has a market cap of $13.045 billion and a P/E ratio of 23.62.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $990.70 million for the quarter, compared to the consensus estimate of $974.00 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts expect that AMETEK will post $2.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, September 12th.
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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