AMETEK (NYSE:AME) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho analyst raised the price target for AMETEK from $212.00 to $225.00, indicating a potential upside of 23.84% based on the company's previous close.
• AMETEK's stock is currently rated as a Moderate Buy with an average target price of $198.70, based on assessments from various research firms.
• Despite a recent drop of 1.7% in stock price, AMETEK reported higher than expected quarterly earnings and revenue growth, beating consensus estimates.

AMETEK (NYSE:AME - Get Free Report) had its price objective hoisted by stock analysts at Mizuho from $212.00 to $225.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Mizuho's target price would indicate a potential upside of 23.84% from the company's previous close.

A number of other research firms have also commented on AME. Morgan Stanley began coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price target on the stock. Robert W. Baird dropped their price target on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada lifted their price target on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday. Melius lowered shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of "Moderate Buy" and an average target price of $198.70.

AMETEK Stock Down 1.7%

AME traded down $3.17 during midday trading on Friday, hitting $181.68. 613,722 shares of the company's stock traded hands, compared to its average volume of 1,383,081. The company has a market cap of $41.95 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. The stock's fifty day simple moving average is $179.35 and its 200-day simple moving average is $176.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK has a one year low of $145.02 and a one year high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.09. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned $1.66 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that AMETEK will post 7.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently bought and sold shares of the business. DAVENPORT & Co LLC boosted its stake in shares of AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after purchasing an additional 60 shares in the last quarter. Alps Advisors Inc. lifted its position in AMETEK by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock valued at $1,078,000 after purchasing an additional 60 shares during the period. EWA LLC lifted its position in AMETEK by 4.9% during the 1st quarter. EWA LLC now owns 1,382 shares of the technology company's stock valued at $238,000 after purchasing an additional 65 shares during the period. Buckhead Capital Management LLC lifted its position in AMETEK by 0.3% during the 1st quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company's stock valued at $3,930,000 after purchasing an additional 65 shares during the period. Finally, Signaturefd LLC raised its position in shares of AMETEK by 1.5% in the 1st quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock valued at $796,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.

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