AMETEK (NYSE:AME) has been given a $88.00 price objective by equities research analysts at Wells Fargo & Co in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the technology company’s stock. Wells Fargo & Co’s price objective would indicate a potential upside of 14.32% from the stock’s current price.
Several other equities analysts have also recently issued reports on AME. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, January 4th. Cowen reiterated a “buy” rating and set a $80.00 price target on shares of AMETEK in a research report on Friday, December 22nd. Oppenheimer reiterated a “buy” rating and set a $75.00 price target on shares of AMETEK in a research report on Thursday, December 21st. BMO Capital Markets reiterated a “buy” rating and set a $80.00 price target on shares of AMETEK in a research report on Monday, December 11th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of AMETEK in a research report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $75.83.
AMETEK (AME) traded up $0.91 on Thursday, reaching $76.98. The company had a trading volume of 1,558,231 shares, compared to its average volume of 824,551. AMETEK has a 12-month low of $50.06 and a 12-month high of $77.32. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $17,791.39, a PE ratio of 32.34, a P/E/G ratio of 2.26 and a beta of 1.36.
AMETEK (NYSE:AME) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. AMETEK had a return on equity of 16.48% and a net margin of 13.37%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. equities analysts predict that AMETEK will post 2.58 EPS for the current fiscal year.
In other 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 transaction of $1,863,508.05. Following the completion of the sale, the insider now directly owns 200,548 shares of the company’s stock, valued at approximately $14,393,329.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the sale, the vice president now directly owns 19,947 shares of the company’s stock, valued at $1,403,271.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,815 shares of company stock valued at $2,209,220. Corporate insiders own 2.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its stake in shares of AMETEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after acquiring an additional 263 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of AMETEK in the second quarter worth $107,000. Acropolis Investment Management LLC acquired a new stake in shares of AMETEK in the fourth quarter worth $108,000. Zions Bancorporation acquired a new stake in shares of AMETEK in the third quarter worth $150,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AMETEK in the second quarter worth $151,000. 84.77% of the stock is owned by institutional investors and hedge funds.
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.