AMETEK (NYSE:AME) Earns "Buy" Rating from Truist Financial

Key Points

• Truist Financial reaffirmed its Buy rating on AMETEK and raised its price target to $329 from $316, implying 36.45% upside from the prior close.
• Analyst consensus is Moderate Buy, with an average price target of $278.88; 14 analysts rate the stock Buy or Strong Buy, while five rate it Hold.
• AMETEK beat quarterly expectations, reporting EPS of $2.21 versus $2.11 estimated and revenue of $2.22 billion versus $2.12 billion expected. Revenue increased 17.3% year over year.

AMETEK (NYSE:AME - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Truist Financial in a research report issued on Friday, Benzinga reports. They currently have a $329.00 price target on the technology company's stock, up from their previous price target of $316.00. Truist Financial's target price points to a potential upside of 36.45% from the stock's previous close.

A number of other research firms also recently commented on AME. BMO Capital Markets increased their price objective on shares of AMETEK from $262.00 to $282.00 in a research note on Wednesday, August 5th. Morgan Stanley set a $275.00 price objective on AMETEK in a report on Friday, October 9th. BNP Paribas Exane lifted their target price on AMETEK from $280.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 11th. Weiss Ratings lowered AMETEK from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, November 2nd. Finally, KeyCorp increased their price target on AMETEK from $260.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, AMETEK currently has a consensus rating of "Moderate Buy" and an average target price of $278.88.

AMETEK Price Performance

NYSE AME opened at $241.11 on Friday. The firm's 50 day moving average is $243.32 and its 200-day moving average is $234.99. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $55.29 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.96. AMETEK has a 12-month low of $188.47 and a 12-month high of $261.16.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.11 by $0.10. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.12 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The firm's revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. Equities research analysts anticipate that AMETEK will post 8.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC lifted its stake in AMETEK by 70.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 25,210 shares of the technology company's stock valued at $6,245,000 after purchasing an additional 10,407 shares during the last quarter. Polymer Capital Management US LLC increased its position in AMETEK by 147.8% during the third quarter. Polymer Capital Management US LLC now owns 3,873 shares of the technology company's stock worth $959,000 after buying an additional 2,310 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in AMETEK by 11.2% in the third quarter. Meeder Advisory Services Inc. now owns 6,157 shares of the technology company's stock valued at $1,525,000 after buying an additional 621 shares during the period. Benjamin Edwards Inc. raised its stake in AMETEK by 1.4% in the third quarter. Benjamin Edwards Inc. now owns 5,123 shares of the technology company's stock valued at $1,269,000 after buying an additional 72 shares during the period. Finally, Jackson Thornton Wealth Management LLC lifted its position in shares of AMETEK by 18.2% in the third quarter. Jackson Thornton Wealth Management LLC now owns 2,365 shares of the technology company's stock valued at $586,000 after buying an additional 365 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

AMETEK Company Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company's products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

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