AMTEK, Inc. (AME) Receives Consensus Recommendation of “Buy” from Analysts
AMTEK, Inc. (NYSE:AME) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $72.22.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded 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 reiterated a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research report on Friday, October 13th. Morgan Stanley increased their price objective on AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Finally, Oppenheimer increased their price objective on AMTEK to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd.
In related news, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $71.77, for a total value of $1,863,508.05. Following the transaction, the insider now owns 200,548 shares in the company, valued at $14,393,329.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 12,315 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total value of $817,223.40. Following the completion of the transaction, the insider now owns 38,367 shares in the company, valued at approximately $2,546,034.12. The disclosure for this sale can be found here. Insiders sold 196,970 shares of company stock worth $13,238,102 in the last 90 days. 2.10% of the stock is owned by company insiders.
Shares of AMTEK (NYSE:AME) opened at $71.71 on Thursday. AMTEK has a twelve month low of $48.21 and a twelve month high of $73.06. The stock has a market capitalization of $16,619.64, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.36. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.74% and a net margin of 14.15%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. equities research analysts expect that AMTEK will post 2.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 5th. AMTEK’s payout ratio is currently 15.13%.
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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