Morgan Stanley Raises AMETEK (NYSE:AME) Price Target to $97.00

AMETEK (NYSE:AME) had its price target increased by equities research analysts at Morgan Stanley from $95.00 to $97.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 9.83% from the stock’s previous close.

A number of other equities research analysts have also weighed in on AME. BMO Capital Markets raised their price target on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. KeyCorp raised their price target on shares of AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Vertical Research restated a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Berenberg Bank initiated coverage on shares of AMETEK in a research report on Wednesday, May 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, ValuEngine upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. AMETEK has a consensus rating of “Buy” and a consensus target price of $94.36.

AME opened at $88.32 on Wednesday. The company’s fifty day moving average price is $89.11. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.35 and a beta of 1.24. AMETEK has a twelve month low of $63.14 and a twelve month high of $92.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 18.70%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS. Analysts forecast that AMETEK will post 4.09 earnings per share for the current year.

In related news, CFO William Joseph Burke sold 16,322 shares of AMETEK stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $86.51, for a total value of $1,412,016.22. Following the sale, the chief financial officer now directly owns 86,727 shares in the company, valued at approximately $7,502,752.77. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas M. Montgomery sold 5,602 shares of AMETEK stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $88.50, for a total transaction of $495,777.00. Following the completion of the sale, the vice president now owns 26,419 shares in the company, valued at $2,338,081.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,800 shares of company stock worth $7,936,112. Insiders own 0.80% of the company’s stock.

A number of large investors have recently modified their holdings of AME. Cornerstone Advisors Inc. lifted its position in AMETEK by 55.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after purchasing an additional 138 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in AMETEK in the 1st quarter valued at about $40,000. Berman Capital Advisors LLC lifted its position in AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after purchasing an additional 154 shares during the last quarter. Ibex Wealth Advisors bought a new stake in AMETEK in the 2nd quarter valued at about $52,000. Finally, Legacy Advisors LLC bought a new stake in AMETEK in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Analyst Recommendations for AMETEK (NYSE:AME)

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