AMTEK, Inc. (NYSE:AME) Price Target Raised to $70.00 at Oppenheimer Holdings, Inc.
AMTEK, Inc. (NYSE:AME) had its target price boosted by Oppenheimer Holdings, Inc. from $65.00 to $70.00 in a research report released on Thursday morning. Oppenheimer Holdings, Inc. currently has an outperform rating on the technology company’s stock. Oppenheimer Holdings also issued estimates for AMTEK’s Q3 2017 earnings at $0.62 EPS, Q4 2017 earnings at $0.63 EPS, FY2017 earnings at $2.50 EPS and FY2018 earnings at $2.75 EPS.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of AMTEK from a hold rating to a sell rating in a research note on Tuesday, April 11th. BMO Capital Markets reaffirmed an outperform rating and issued a $67.00 target price (up from $65.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a buy rating and issued a $66.00 target price (up from $63.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Morgan Stanley upped their target price on shares of AMTEK from $57.00 to $62.00 and gave the stock an equal weight rating in a research note on Monday, May 8th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $67.00 target price on shares of AMTEK in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. AMTEK currently has an average rating of Buy and an average target price of $64.82.
AMTEK (AME) traded up 0.19% during mid-day trading on Thursday, reaching $64.52. The company had a trading volume of 815,268 shares. The stock has a market cap of $14.85 billion, a PE ratio of 28.31 and a beta of 1.34. AMTEK has a 12 month low of $43.30 and a 12 month high of $64.73. The firm’s 50-day moving average price is $61.39 and its 200-day moving average price is $57.13.
AMTEK (NYSE:AME) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Equities research analysts forecast that AMTEK will post $2.51 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.56%. AMTEK’s dividend payout ratio is 15.79%.
In related news, insider Ronald J. Oscher sold 5,315 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $60.05, for a total value of $319,165.75. Following the completion of the sale, the insider now directly owns 32,131 shares in the company, valued at approximately $1,929,466.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $62.66, for a total transaction of $187,980.00. Following the completion of the sale, the director now owns 120,880 shares of the company’s stock, valued at $7,574,340.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,738 shares of company stock valued at $3,554,793. Company insiders own 2.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in shares of AMTEK by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,097 shares of the technology company’s stock valued at $393,000 after buying an additional 430 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of AMTEK during the fourth quarter valued at about $863,000. Teachers Advisors LLC increased its stake in shares of AMTEK by 55.0% in the fourth quarter. Teachers Advisors LLC now owns 963,371 shares of the technology company’s stock valued at $46,820,000 after buying an additional 341,991 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of AMTEK during the fourth quarter valued at about $816,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of AMTEK during the fourth quarter valued at about $364,000. Institutional investors and hedge funds own 89.82% 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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