AMTEK, Inc. (AME) Stock Rating Upgraded by Zacks Investment Research
AMTEK, Inc. (NYSE:AME) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $76.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.37% from the stock’s previous close.
According to Zacks, “AMETEK is a leading manufacturer of electronic appliances and electromechanical devices. The company continues to reap the benefits from the execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions. This, in combination with a strong portfolio of differentiated businesses, is expected to help the company post better results, going forward. However, weakness in its balance sheet, integration issues and an overly high goodwill associated with an aggressive acquisition strategy are concerns. Foreign exchange headwinds remain. Notably, over the last one year, the stock has underperformed the Zacks Electronic Test Equipment industry.”
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of AMTEK in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. boosted their price objective on shares of AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BMO Capital Markets boosted their price objective on shares of AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus set a $70.00 price objective on shares of AMTEK and gave the stock a “buy” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $71.80.
AMTEK (NYSE:AME) opened at $69.49 on Monday. 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 $15,921.66, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.34 and a beta of 1.33. AMTEK has a 1-year low of $45.78 and a 1-year high of $70.26.
AMTEK (NYSE:AME) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. research analysts forecast that AMTEK will post 2.58 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/11/15/amtek-inc-ame-stock-rating-upgraded-by-zacks-investment-research.html.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas C. Marecic sold 12,315 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $66.36, for a total transaction of $817,223.40. Following the sale, the insider now directly owns 38,367 shares of the company’s stock, valued at approximately $2,546,034.12. The disclosure for this sale can be found here. Insiders sold a total of 166,155 shares of company stock valued at $11,028,883 in the last three months. Insiders own 2.10% of the company’s stock.
Several large investors have recently made changes to their positions in AME. Commonwealth Bank of Australia boosted its stake in AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after purchasing an additional 263 shares during the period. BB&T Investment Services Inc. acquired a new position in AMTEK during the 2nd quarter valued at about $107,000. Zions Bancorporation acquired a new position in AMTEK during the 3rd quarter valued at about $150,000. Edmond DE Rothschild Holding S.A. acquired a new position in AMTEK during the 2nd quarter valued at about $151,000. Finally, Acrospire Investment Management LLC boosted its stake in AMTEK by 104.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,300 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.
AMTEK 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.
Receive News & Ratings for AMTEK Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK Inc. and related companies with MarketBeat.com's FREE daily email newsletter.