Stifel Nicolaus Reiterates “$70.00” Price Target for AMTEK, Inc. (AME)
Stifel Nicolaus set a $70.00 target price on AMTEK, Inc. (NYSE:AME) in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the technology company’s stock.
Other equities 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 $72.00 price target for the company in a research note on Monday, August 7th. BidaskClub cut AMTEK from a strong-buy rating to a buy rating in a research 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 research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. increased their price objective on AMTEK from $65.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $66.55.
AMTEK (NYSE:AME) opened at 66.99 on Friday. AMTEK has a 12-month low of $43.98 and a 12-month high of $67.07. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 29.39 and a beta of 1.31. The stock’s 50 day moving average is $64.63 and its 200 day moving average is $60.81.
AMTEK (NYSE:AME) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that AMTEK will post $2.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, September 14th. AMTEK’s payout ratio is 15.79%.
In other news, insider John Wesley Hardin sold 2,600 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the transaction, the insider now owns 59,698 shares in the company, valued at $3,851,117.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas M. Montgomery sold 1,500 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $64.49, for a total value 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 approximately $1,402,464.03. The disclosure for this sale can be found here. Insiders sold 173,255 shares of company stock valued at $11,483,064 in the last quarter. 2.10% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in AME. UBS Asset Management Americas Inc. increased its position in shares of AMTEK by 10.6% in the first quarter. UBS Asset Management Americas Inc. now owns 618,711 shares of the technology company’s stock valued at $33,460,000 after buying an additional 59,494 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of AMTEK by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,191 shares of the technology company’s stock valued at $227,000 after buying an additional 132 shares in the last quarter. Stifel Financial Corp increased its position in shares of AMTEK by 33.2% in the first quarter. Stifel Financial Corp now owns 14,807 shares of the technology company’s stock valued at $802,000 after buying an additional 3,692 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of AMTEK by 19.1% in the first quarter. Neuberger Berman Group LLC now owns 7,243 shares of the technology company’s stock valued at $392,000 after buying an additional 1,160 shares in the last quarter. Finally, Cadence Capital Management LLC increased its position in shares of AMTEK by 0.6% in the first quarter. Cadence Capital Management LLC now owns 6,898 shares of the technology company’s stock valued at $373,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 85.62% 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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