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AMETEK (NYSE:AME) Stock Price Target Lowered at Mizuho

AMETEK logo with Technology background
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Key Points

  • Mizuho lowered its AMETEK price target from $285 to $275 but maintained an “outperform” rating; the new target implies about 10.2% upside from the stock’s current price.
  • Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $276.56.
  • AMETEK beat quarterly estimates, reporting EPS of $2.21 versus $2.11 expected and revenue of $2.22 billion versus $2.12 billion; revenue grew 17.3% year over year.
  • Five stocks we like better than AMETEK.

AMETEK (NYSE:AME - Get Free Report) had its price objective reduced by analysts at Mizuho from $285.00 to $275.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Mizuho's price objective indicates a potential upside of 10.22% from the stock's current price.

A number of other brokerages have also commented on AME. BMO Capital Markets boosted their price target on AMETEK from $262.00 to $282.00 in a report on Wednesday, August 5th. Rothschild & Co Redburn increased their price objective on AMETEK from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. DA Davidson set a $285.00 target price on AMETEK in a research report on Wednesday, October 7th. Citigroup boosted their target price on AMETEK from $261.00 to $263.00 and gave the company a "neutral" rating in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded AMETEK from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $276.56.

Get Our Latest Stock Analysis on AMETEK

AMETEK Trading Up 3.1%

Shares of NYSE:AME opened at $249.51 on Wednesday. The firm has a market cap of $57.19 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.29 and a beta of 0.96. AMETEK has a 12 month low of $188.47 and a 12 month high of $261.16. The company's fifty day simple moving average is $243.74 and its 200 day simple moving average is $234.40. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 0.09.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.10. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. AMETEK had a net margin of 20.04% and a return on equity of 16.93%. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 EPS. As a group, research analysts forecast that AMETEK will post 8.41 EPS for the current fiscal year.

Insider Activity

In other news, insider David Hermance sold 6,608 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $254.00, for a total value of $1,678,432.00. Following the completion of the sale, the insider owned 42,509 shares of the company's stock, valued at approximately $10,797,286. This represents a 13.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

A number of institutional investors have recently added to or reduced their stakes in AME. Frazier Financial Advisors LLC acquired a new position in shares of AMETEK during the 2nd quarter worth about $25,000. Fiduciary Financial Advisors acquired a new stake in AMETEK in the 2nd quarter valued at about $27,000. Elevation Wealth Partners LLC lifted its stake in AMETEK by 239.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 129 shares of the technology company's stock valued at $31,000 after purchasing an additional 91 shares during the last quarter. GK Wealth Management LLC acquired a new stake in AMETEK in the 3rd quarter valued at about $36,000. Finally, NFSG Corp bought a new position in AMETEK during the third quarter worth about $48,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK News Summary

Here are the key news stories impacting AMETEK this week:

AMETEK Company Profile

(Get Free Report)

AMETEK, Inc is a global manufacturer of industrial technology solutions. The company develops and produces advanced analytical, monitoring, testing, and measurement instruments, as well as engineered electromechanical products used in industrial, aerospace, defense, energy, medical, and other specialized markets.

AMETEK operates through two primary business groups: Electronic Instruments and Electromechanical. Its products include process and power monitoring systems, analytical instruments, automation and control technologies, aerospace and defense equipment, precision motion-control systems, motors, thermal-management solutions, engineered materials, and specialty metal products.

The company traces its roots to 1930 and has expanded through the development and acquisition of specialized technology businesses.

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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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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