BMO Capital Markets Reaffirms “Buy” Rating for AMTEK (AME)

BMO Capital Markets reissued their buy rating on shares of AMTEK (NYSE:AME) in a research report report published on Monday. The brokerage currently has a $80.00 price objective on the technology company’s stock.

A number of other analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of AMTEK from a hold rating to a buy rating and set a $71.00 price objective for the company in a research note on Tuesday, September 5th. Royal Bank of Canada reissued a buy rating and issued a $70.00 price objective on shares of AMTEK in a research note on Friday, October 13th. Jefferies Group increased their price objective on shares of AMTEK from $66.00 to $77.00 and gave the stock a buy rating in a research note on Friday, October 13th. Finally, Oppenheimer raised their target price on shares of AMTEK to $75.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $72.00.

Shares of AMTEK (NYSE:AME) opened at $70.96 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16. The stock has a market cap of $16,400.00, a price-to-earnings ratio of 28.97, a PEG ratio of 2.35 and a beta of 1.36. AMTEK has a 52 week low of $48.21 and a 52 week high of $73.06.

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, topping the Zacks’ consensus estimate of $0.62 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share. research analysts anticipate that AMTEK will post 2.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.36 annualized dividend and a yield of 0.51%. AMTEK’s payout ratio is 15.13%.

In related news, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total transaction of $219,081.50. Following the completion of the transaction, the director now directly owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. Insiders have sold 196,970 shares of company stock valued at $13,238,102 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in AME. Janus Henderson Group PLC lifted its position in AMTEK by 22,076.4% during the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after purchasing an additional 6,374,794 shares during the last quarter. Boston Partners lifted its position in AMTEK by 21.7% during the third quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after purchasing an additional 932,008 shares during the last quarter. Vanguard Group Inc. lifted its position in AMTEK by 3.1% during the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after purchasing an additional 687,292 shares during the last quarter. SG Americas Securities LLC lifted its position in AMTEK by 2,013.0% during the second quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock valued at $38,278,000 after purchasing an additional 602,050 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in AMTEK during the second quarter valued at $15,287,000. Institutional investors and hedge funds own 84.40% of the company’s stock.

WARNING: This story was reported by Community Financial News and is owned by of Community Financial News. If you are reading this story on another website, it was copied illegally and reposted in violation of US and international copyright & trademark legislation. The original version of this story can be accessed at https://www.com-unik.info/2017/12/15/bmo-capital-markets-reaffirms-buy-rating-for-amtek-ame.html.

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.

Analyst Recommendations for AMTEK (NYSE:AME)

Receive News & Ratings for AMTEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit