Cowen Reaffirms Buy Rating for AMTEK (AME)

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

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised AMTEK from a hold rating to a buy rating and set a $71.00 target price for the company in a report on Tuesday, September 5th. Royal Bank of Canada reissued a buy rating and set a $70.00 target price on shares of AMTEK in a report on Friday, October 13th. Jefferies Group increased their target price on AMTEK from $66.00 to $77.00 and gave the company a buy rating in a report on Friday, October 13th. Oppenheimer increased their price target on AMTEK to $75.00 and gave the company an outperform rating in a report on Friday, November 3rd. Finally, BMO Capital Markets increased their price target on AMTEK from $77.00 to $78.00 and gave the company an outperform rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. AMTEK currently has a consensus rating of Buy and an average price target of $73.40.

AMTEK (AME) opened at $72.60 on Friday. AMTEK has a fifty-two week low of $48.21 and a fifty-two week high of $73.06. The company has a market capitalization of $16,780.00, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.36. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

AMTEK (NYSE:AME) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. equities research analysts expect that AMTEK will post 2.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were issued a $0.09 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $0.36 annualized dividend and a dividend yield of 0.50%. AMTEK’s dividend payout ratio is presently 15.13%.

In related news, VP Thomas M. Montgomery sold 1,800 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the completion of the transaction, the vice president now directly owns 19,947 shares in the company, valued at $1,403,271.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total value of $198,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,815 shares of company stock valued at $2,408,120. Insiders own 2.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of AME. Janus Henderson Group PLC boosted its position in shares of 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 worth $387,870,000 after buying an additional 6,374,794 shares during the period. Boston Partners boosted its position in shares of AMTEK by 21.7% during the third quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock worth $345,618,000 after buying an additional 932,008 shares during the period. Vanguard Group Inc. boosted its position in shares of AMTEK by 3.1% during the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock worth $1,367,497,000 after buying an additional 687,292 shares during the period. Balyasny Asset Management LLC purchased a new position in shares of AMTEK during the second quarter worth $15,287,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of AMTEK by 9.4% during the third quarter. Westfield Capital Management Co. LP now owns 2,843,212 shares of the technology company’s stock worth $187,766,000 after buying an additional 244,892 shares during the period. Institutional investors own 84.24% of the company’s stock.

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About AMTEK

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)

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