AMTEK (AME) Earns Buy Rating from BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of AMTEK (NYSE:AME) in a report released on Monday morning. BMO Capital Markets currently has a $80.00 target price on the technology company’s stock.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded AMTEK from a hold rating to a buy rating and set a $70.00 price target on the stock in a research report on Thursday, August 24th. Robert W. Baird restated a buy rating and issued a $70.00 price target on shares of AMTEK in a research report on Friday, October 6th. Stifel Nicolaus set a $70.00 price target on AMTEK and gave the stock a buy rating in a research report on Friday, October 6th. Royal Bank of Canada restated a buy rating and issued a $70.00 price target on shares of AMTEK in a research report on Friday, October 13th. Finally, Jefferies Group raised their price target on AMTEK from $66.00 to $77.00 and gave the stock a buy rating in a research report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. AMTEK has a consensus rating of Buy and an average target price of $72.00.
AMTEK (NYSE:AME) opened at $71.71 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 capitalization of $16,670.48, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 2.35 and a beta of 1.36. AMTEK has a 12-month low of $48.21 and a 12-month high of $73.06.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $0.56 earnings per share. AMTEK’s revenue was up 14.8% on a year-over-year basis. sell-side analysts forecast that AMTEK will post 2.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders 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 yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 5th. AMTEK’s dividend payout ratio is presently 15.13%.
In other AMTEK news, insider David A. Zapico sold 25,965 shares of AMTEK stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,050 shares of AMTEK stock in a transaction dated 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 approximately $8,470,911.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,970 shares of company stock worth $13,238,102. Company insiders own 2.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC bought a new position in AMTEK in the second quarter valued at about $194,000. Commonwealth Bank of Australia grew its position in AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after acquiring an additional 263 shares during the last quarter. BB&T Investment Services Inc. bought a new position in AMTEK in the second quarter valued at about $107,000. Zions Bancorporation bought a new position in AMTEK in the third quarter valued at about $150,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in AMTEK in the second quarter valued at about $151,000. Hedge funds and other institutional investors own 84.40% of the company’s stock.
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.
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