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AMETEK (NYSE:AME) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

AMETEK logo with Computer and Technology background

Key Points

  • Royal Bank of Canada has raised its price target for AMETEK from $209 to $212, indicating a potential upside of 17.64% from the recent closing price.
  • Overall, AMETEK has received a mix of ratings from analysts, with an average rating of "Moderate Buy" and a consensus target price of $197.40.
  • The company reported a quarterly earnings increase, with earnings per share of $1.78, surpassing analyst expectations of $1.69.
  • MarketBeat previews top five stocks to own in September.

AMETEK (NYSE:AME - Get Free Report) had its price objective lifted by stock analysts at Royal Bank Of Canada from $209.00 to $212.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price target indicates a potential upside of 17.64% from the company's previous close.

A number of other research firms have also weighed in on AME. Melius lowered shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective on the stock. in a research note on Monday, July 14th. KeyCorp raised their price target on shares of AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday. Mizuho set a $212.00 price target on shares of AMETEK in a research report on Friday, May 16th. Melius Research raised shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. Finally, Morgan Stanley started coverage on shares of AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AMETEK presently has an average rating of "Moderate Buy" and a consensus target price of $197.40.

View Our Latest Stock Analysis on AMETEK

AMETEK Price Performance

NYSE:AME traded down $4.65 on Friday, hitting $180.21. The company had a trading volume of 408,692 shares, compared to its average volume of 1,381,494. AMETEK has a 52 week low of $145.02 and a 52 week high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $179.35 and a two-hundred day moving average of $176.99. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.65 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. AMETEK's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, research analysts anticipate that AMETEK will post 7.15 earnings per share for the current year.

Institutional Investors Weigh In On AMETEK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AMETEK by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 26,484,263 shares of the technology company's stock valued at $4,559,001,000 after purchasing an additional 336,491 shares during the period. Price T Rowe Associates Inc. MD grew its position in AMETEK by 21.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,970,047 shares of the technology company's stock valued at $1,888,385,000 after purchasing an additional 1,908,742 shares during the last quarter. FMR LLC grew its position in AMETEK by 1.1% during the 4th quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock valued at $1,614,468,000 after purchasing an additional 98,546 shares during the last quarter. Capital World Investors boosted its holdings in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AMETEK by 2.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,747,368 shares of the technology company's stock valued at $989,352,000 after acquiring an additional 154,682 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for AMETEK (NYSE:AME)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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