AMTEK, Inc. (AME) Given Consensus Recommendation of “Buy” by Analysts

AMTEK, Inc. (NYSE:AME) has been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $71.80.

A number of brokerages have weighed in on AME. Oppenheimer Holdings, Inc. raised their target price on AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Monday, November 13th. Robert W. Baird raised their target price on AMTEK from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Jefferies Group LLC raised 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. Finally, BidaskClub downgraded AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th.

In related news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $817,223.40. Following the transaction, the insider now directly owns 38,367 shares of the company’s stock, valued at $2,546,034.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,955 shares of company stock valued at $11,155,513. 2.10% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia raised its position in shares of AMTEK by 17.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after acquiring an additional 263 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of AMTEK in the 2nd quarter worth about $107,000. Zions Bancorporation bought a new position in shares of AMTEK in the 3rd quarter worth about $150,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of AMTEK in the 2nd quarter worth about $151,000. Finally, Acrospire Investment Management LLC grew its stake in shares of AMTEK by 104.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after buying an additional 1,300 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

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Shares of AMTEK (NYSE:AME) opened at $70.26 on Friday. The firm has a market capitalization of $16,238.28, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.33. AMTEK has a twelve month low of $45.78 and a twelve month high of $70.43. 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, beating the Zacks’ consensus estimate of $0.62 by $0.04. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.48% and a net margin of 13.37%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. equities research analysts expect that AMTEK will post 2.58 earnings per share 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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.51%. The ex-dividend date is Tuesday, December 5th. AMTEK’s dividend payout ratio is currently 15.13%.

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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