Royal Bank Of Canada Reiterates “Buy” Rating for AMTEK, Inc. (AME)
AMTEK, Inc. (NYSE:AME)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $70.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 4.31% from the company’s current price.
AME has been the topic of several other research reports. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, September 5th. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 target price (up previously from $62.00) on shares of AMTEK in a report on Friday, July 7th. BMO Capital Markets raised their target price on shares of AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.82.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share.
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Several large investors have recently added to or reduced their stakes in AME. BlackRock Inc. grew its stake in shares of AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock worth $747,572,000 after purchasing an additional 13,392,716 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of AMTEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after purchasing an additional 6,374,794 shares in the last quarter. Boston Partners grew its stake in shares of AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock worth $186,004,000 after purchasing an additional 2,897,568 shares in the last quarter. Janus Capital Management LLC grew its stake in shares of AMTEK by 166.3% in the fourth quarter. Janus Capital Management LLC now owns 3,749,860 shares of the technology company’s stock worth $182,282,000 after purchasing an additional 2,341,543 shares in the last quarter. Finally, Norges Bank bought a new position in shares of AMTEK in the fourth quarter worth $97,055,000. 85.62% of the stock is owned by institutional investors.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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