AMETEK (AME) Receives Buy Rating from KeyCorp

AMETEK (NYSE:AME)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a report issued on Friday, January 19th. They presently have a $82.00 target price on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 10.81% from the stock’s current price. KeyCorp also issued estimates for AMETEK’s FY2018 earnings at $3.01 EPS.

A number of other equities research analysts have also weighed in on AME. Zacks Investment Research lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus set a $70.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, October 6th. Wells Fargo & Co set a $88.00 target price on shares of AMETEK and gave the stock a “buy” rating in a report on Thursday, January 18th. Robert W. Baird reissued a “buy” rating and set a $70.00 target price on shares of AMETEK in a report on Friday, October 6th. Finally, Morgan Stanley boosted their target price on shares of AMETEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.00.

AMETEK (NYSE AME) traded up $1.70 during mid-day trading on Friday, reaching $74.00. 1,739,764 shares of the company were exchanged, compared to its average volume of 1,300,000. The firm has a market cap of $17,100.00, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31. AMETEK has a twelve month low of $52.42 and a twelve month high of $78.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.22 and a current ratio of 1.70.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. analysts predict that AMETEK will post 3.04 EPS for the current fiscal year.

In related news, Director Elizebeth R. Varet sold 6,295 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $74.72, for a total transaction of $470,362.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Zapico sold 25,965 shares of the 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 transaction, the insider now directly owns 200,548 shares in the company, valued at $14,393,329.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,478 shares of company stock worth $3,939,918. Insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AME. BB&T Investment Services Inc. bought a new position in AMETEK during the second quarter worth $107,000. Acropolis Investment Management LLC bought a new position in AMETEK during the fourth quarter worth $108,000. Zions Bancorporation bought a new position in AMETEK during the third quarter worth $150,000. Edmond DE Rothschild Holding S.A. bought a new position in AMETEK during the second quarter worth $151,000. Finally, QS Investors LLC boosted its stake in AMETEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after acquiring an additional 25 shares in the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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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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