AMETEK’s (AME) Buy Rating Reaffirmed at KeyCorp

AMETEK (NYSE:AME)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report issued on Friday. They currently have a $82.00 price objective on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 6.52% from the company’s current price. KeyCorp also issued estimates for AMETEK’s FY2018 earnings at $3.01 EPS.

AME has been the topic of a number of other reports. Robert W. Baird boosted their price target on shares of AMETEK from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Jefferies Group boosted their price target on shares of AMETEK from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Oppenheimer reissued a “buy” rating and issued a $75.00 price target on shares of AMETEK in a research note on Thursday, December 21st. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of AMETEK in a research note on Friday, December 22nd. Finally, Morgan Stanley boosted their price target on shares of AMETEK from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $75.83.

AMETEK (NYSE:AME) opened at $76.98 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. AMETEK has a 52 week low of $50.06 and a 52 week high of $77.32. The company has a market cap of $17,791.39, a PE ratio of 32.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.36.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. AMETEK had a net margin of 13.37% and a return on equity of 16.48%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. equities analysts predict that AMETEK will post 2.58 EPS for the current fiscal year.

In related news, Director Elizebeth R. Varet sold 3,050 shares of AMETEK stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total value of $219,081.50. Following the completion of the transaction, the director now owns 117,930 shares in the company, valued at $8,470,911.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Zapico sold 25,965 shares of AMETEK stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $71.77, for a total transaction of $1,863,508.05. Following the completion of the transaction, the insider now owns 200,548 shares of the company’s stock, valued at approximately $14,393,329.96. The disclosure for this sale can be found here. Insiders sold 30,815 shares of company stock valued at $2,209,220 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Catawba Capital Management VA acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $208,000. State of Alaska Department of Revenue grew its holdings in shares of AMETEK by 66.6% in the fourth quarter. State of Alaska Department of Revenue now owns 34,062 shares of the technology company’s stock valued at $2,467,000 after purchasing an additional 13,620 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of AMETEK by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 823,096 shares of the technology company’s stock valued at $59,650,000 after purchasing an additional 24,863 shares in the last quarter. Creative Planning grew its holdings in shares of AMETEK by 18.5% in the fourth quarter. Creative Planning now owns 6,411 shares of the technology company’s stock valued at $465,000 after purchasing an additional 999 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of AMETEK by 0.9% in the fourth quarter. National Pension Service now owns 249,110 shares of the technology company’s stock valued at $18,053,000 after purchasing an additional 2,344 shares in the last quarter. Hedge funds and other institutional investors own 84.77% of the company’s stock.

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AMETEK Company Profile

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.

Analyst Recommendations for AMETEK (NYSE:AME)

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