AMTEK, Inc. (AME) Price Target Raised to $77.00 at Robert W. Baird
AMTEK, Inc. (NYSE:AME) had its target price increased by research analysts at Robert W. Baird from $70.00 to $77.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 13.80% from the company’s current price.
Several other analysts have also recently issued reports on AME. Oppenheimer Holdings, Inc. increased their price target on shares of AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Jefferies Group LLC increased their price target on shares of AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. BidaskClub cut shares of AMTEK from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Stifel Nicolaus set a $70.00 price target on shares of AMTEK and gave the stock a “buy” rating in a research report on Friday, October 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. AMTEK has an average rating of “Buy” and an average price target of $71.60.
AMTEK (NYSE:AME) traded down $0.72 during midday trading on Friday, reaching $67.66. 2,364,826 shares of the company’s stock were exchanged, compared to its average volume of 1,115,619. The company has a quick ratio of 1.25, a current ratio of 1.59 and a debt-to-equity ratio of 0.51. The company has a market cap of $15,637.38, a price-to-earnings ratio of 27.17, a PEG ratio of 2.30 and a beta of 1.33.
AMTEK (NYSE:AME) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. AMTEK’s revenue for the quarter was up 14.8% compared to the same quarter last year. sell-side analysts expect 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 firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the sale, the vice president now owns 21,747 shares of the company’s stock, valued at $1,402,464.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the sale, the director now directly owns 117,880 shares in the company, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,655 shares of company stock worth $11,315,338. 2.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in AMTEK by 3.1% in the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after acquiring an additional 687,292 shares in the last quarter. BlackRock Inc. raised its holdings in AMTEK by 0.8% in the second quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock valued at $844,062,000 after acquiring an additional 111,864 shares in the last quarter. Janus Henderson Group PLC raised its holdings in 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 valued at $387,870,000 after acquiring an additional 6,374,794 shares in the last quarter. Capital Research Global Investors raised its holdings in AMTEK by 2.0% in the second quarter. Capital Research Global Investors now owns 6,277,378 shares of the technology company’s stock valued at $380,221,000 after acquiring an additional 121,862 shares in the last quarter. Finally, Boston Partners raised its holdings in AMTEK by 21.7% in the third quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after acquiring an additional 932,008 shares in the last quarter. 85.67% of the stock is currently owned by hedge funds and other 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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