AMETEK (AME) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AMETEK (NYSE:AME) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $84.00 price objective on the technology company’s stock.

According to Zacks, “AMETEK reported strong fourth quarter results wherein both earnings and sales have improved year over year on the back of robust organic growth and well performing segments. Also, benefits from acquisitions contributed well throughout the quarter. The buyouts of Arizona Instrument, Motec, Soundcom, Forza, Telular, and Spectro Scientific drove the sales in the reported quarter. Further, FMH Aerospace acquisition continued to aid sales in the Electromechanical unit of the company. We believe proper execution of core growth strategies like operational excellence, global market expansion, investments in product development and strategic acquisitions will continue to aid AMETEK’s top-line growth. Notably, the stock has outperformed the industry it belongs to over a year. However, integration issues, high goodwill associated with an aggressive acquisition strategy and foreign exchange fluctuation are concerns.”

Several other brokerages have also recently issued reports on AME. Morgan Stanley reduced their price objective on AMETEK from $84.00 to $81.00 and set an equal weight rating on the stock in a research note on Monday, November 5th. Royal Bank of Canada restated a buy rating and set a $82.00 price objective on shares of AMETEK in a research note on Wednesday, December 19th. BMO Capital Markets restated a buy rating and set a $90.00 price objective on shares of AMETEK in a research note on Tuesday, January 29th. Robert W. Baird raised their price objective on AMETEK from $82.00 to $84.00 and gave the stock an outperform rating in a research note on Friday, November 2nd. Finally, Wolfe Research upgraded AMETEK from a market perform rating to an outperform rating in a research note on Tuesday, January 8th. Twelve research analysts have rated the stock with a buy rating, AMETEK currently has a consensus rating of Buy and a consensus target price of $86.10.

Shares of AME opened at $75.76 on Friday. AMETEK has a 12-month low of $63.14 and a 12-month high of $81.92. The firm has a market cap of $17.59 billion, a P/E ratio of 23.03, a PEG ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that AMETEK will post 3.92 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of AME. Oregon Public Employees Retirement Fund lifted its stake in AMETEK by 6,587.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock valued at $25,000 after buying an additional 1,676,926 shares during the last quarter. IFP Advisors Inc lifted its stake in AMETEK by 76.4% in the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in AMETEK in the fourth quarter valued at $32,000. SRS Capital Advisors Inc. lifted its stake in AMETEK by 183.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after buying an additional 485 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in AMETEK in the fourth quarter valued at $65,000. Institutional investors own 84.33% of the company’s stock.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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