AMTEK, Inc. (AME) PT Raised to $78.00 at BMO Capital Markets
AMTEK, Inc. (NYSE:AME) had its price target boosted by investment analysts at BMO Capital Markets from $77.00 to $78.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 15.28% from the stock’s previous close.
Several other brokerages also recently issued reports on AME. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 price target on shares of AMTEK in a research report on Friday, October 13th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 price target (up previously from $62.00) on shares of AMTEK in a research report on Friday, July 7th. Morgan Stanley upped their price target on shares of AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, BidaskClub lowered shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $71.60.
AMTEK (AME) opened at $67.66 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.25 and a debt-to-equity ratio of 0.51. The company has a market cap of $15,637.38, a PE ratio of 27.17, a P/E/G ratio of 2.30 and a beta of 1.33.
AMTEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 earnings per share. analysts anticipate that AMTEK will post 2.58 earnings per share for the current fiscal year.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the completion of the transaction, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas M. Montgomery sold 1,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.49, for a total transaction of $96,735.00. Following the completion of the transaction, the vice president now owns 21,747 shares of the company’s stock, valued at $1,402,464.03. The disclosure for this sale can be found here. Insiders sold 170,655 shares of company stock valued at $11,315,338 over the last 90 days. Insiders own 2.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AME. Janus Henderson Group PLC boosted its stake in AMTEK by 22,076.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after acquiring an additional 6,374,794 shares during the last quarter. Boston Partners boosted its stake in AMTEK by 21.7% during the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after acquiring an additional 932,008 shares during the last quarter. Vanguard Group Inc. boosted its stake in AMTEK by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after acquiring an additional 687,292 shares during the last quarter. SG Americas Securities LLC boosted its stake in AMTEK by 2,013.0% during the 2nd quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock valued at $38,278,000 after acquiring an additional 602,050 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of AMTEK in the 2nd quarter worth about $17,144,000. Hedge funds and other institutional investors own 85.67% 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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