AMTEK, Inc. (NYSE:AME) Price Target Increased to $77.00 by Analysts at Robert W. Baird

AMTEK, Inc. (NYSE:AME) had its target price lifted by Robert W. Baird from $70.00 to $77.00 in a research report issued on Friday, November 3rd. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 9.62% from the company’s current price.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Jefferies Group LLC boosted their target price on shares of AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $70.00 target price on shares of AMTEK in a research report on Friday, October 13th. Finally, Stifel Nicolaus set a $70.00 target price on shares of AMTEK and gave the company a “buy” rating in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. AMTEK currently has a consensus rating of “Buy” and an average target price of $71.80.

AMTEK (AME) traded down $0.11 during midday trading on Friday, hitting $70.24. 1,000,225 shares of the stock were exchanged, compared to its average volume of 1,353,409. The firm has a market capitalization of $16,230.00, a P/E ratio of 28.38, a PEG ratio of 2.40 and a beta of 1.33. AMTEK has a 12 month low of $45.78 and a 12 month high of $71.24. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.51.

AMTEK (NYSE:AME) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. sell-side analysts predict that AMTEK will post 2.58 earnings per share for the current fiscal year.

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In other AMTEK news, insider Thomas C. Marecic sold 12,315 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total transaction of $817,223.40. Following the transaction, the insider now directly owns 38,367 shares in the company, valued at approximately $2,546,034.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value of $126,630.00. Following the sale, the vice president now directly owns 19,947 shares of the company’s stock, valued at $1,403,271.45. The disclosure for this sale can be found here. Insiders have sold a total of 167,955 shares of company stock worth $11,155,513 over the last 90 days. Company insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in AMTEK by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock worth $1,367,497,000 after acquiring an additional 687,292 shares during the last quarter. BlackRock Inc. boosted its stake in AMTEK by 0.8% in the 2nd quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock worth $844,062,000 after purchasing an additional 111,864 shares during the period. Janus Henderson Group PLC boosted its stake in AMTEK by 22,076.4% in the 2nd quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after purchasing an additional 6,374,794 shares during the period. Capital Research Global Investors boosted its stake in AMTEK by 2.0% in the 2nd quarter. Capital Research Global Investors now owns 6,277,378 shares of the technology company’s stock worth $380,221,000 after purchasing an additional 121,862 shares during the period. Finally, Boston Partners boosted its stake in AMTEK by 21.7% in the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock worth $345,618,000 after purchasing an additional 932,008 shares during the period. 83.90% of the stock is owned by institutional investors.

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)

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