AMTEK, Inc. (AME) Price Target Increased to $78.00 by Analysts at BMO Capital Markets
AMTEK, Inc. (NYSE:AME) had its price objective lifted by equities research analysts at BMO Capital Markets from $77.00 to $78.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 15.28% from the stock’s previous close.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, September 5th. Royal Bank Of Canada reissued a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research report on Friday, October 13th. Jefferies Group LLC boosted their price objective on shares of AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub downgraded shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $71.60.
Shares of AMTEK (AME) traded down $0.72 on Friday, reaching $67.66. The company had a trading volume of 2,364,800 shares, compared to its average volume of 1,115,619. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.25. The company has a market capitalization of $15,637.38, a P/E ratio of 27.17, a P/E/G ratio of 2.30 and a beta of 1.33.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. sell-side analysts predict that AMTEK will post 2.58 EPS for the current fiscal year.
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In related news, VP Thomas M. Montgomery sold 1,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the transaction, the vice president now owns 21,747 shares in the company, valued at approximately $1,402,464.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,655 shares of company stock worth $11,315,338. Company insiders own 2.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia boosted its stake in AMTEK by 17.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares in the last quarter. BB&T Investment Services Inc. bought a new position in AMTEK in the 2nd quarter worth about $107,000. Edmond DE Rothschild Holding S.A. bought a new position in AMTEK in the 2nd quarter worth about $151,000. Acrospire Investment Management LLC boosted its stake in AMTEK by 104.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,300 shares in the last quarter. Finally, QS Investors LLC boosted its stake in AMTEK by 0.9% in the 2nd quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.
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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