KeyCorp Forecasts Strong Price Appreciation for AMETEK (NYSE:AME) Stock

Key Points

• KeyCorp has increased its price target for AMETEK from $195.00 to $205.00, reflecting a potential upside of 10.82% from the current price.
• AMETEK reported a quarterly earnings of $1.78 per share, exceeding expectations, with a revenue of $1.78 billion, up 2.5% year-over-year.
• The consensus rating for AMETEK among analysts is a Moderate Buy with various targets ranging up to $212.00 by Mizuho.

AMETEK (NYSE:AME - Get Free Report) had its price objective hoisted by equities researchers at KeyCorp from $195.00 to $205.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. KeyCorp's target price indicates a potential upside of 10.82% from the company's current price.

A number of other brokerages have also recently commented on AME. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Mizuho set a $212.00 price target on AMETEK in a research note on Friday, May 16th. Melius Research upgraded AMETEK to a "hold" rating in a research note on Monday, July 14th. Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Monday, July 14th. Finally, Morgan Stanley assumed coverage on AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $196.30.

AMETEK Trading Up 4.7%

Shares of NYSE:AME opened at $184.99 on Friday. The business's 50 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 1 year low of $145.02 and a 1 year high of $198.33. The company has a market capitalization of $42.71 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.65 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results 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. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts anticipate that AMETEK will post 7.15 EPS for the current fiscal year.

Institutional Trading of AMETEK

Several large investors have recently made changes to their positions in the company. DAVENPORT & Co LLC grew 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 buying an additional 60 shares during the period. Alps Advisors Inc. boosted its stake 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 last quarter. EWA LLC boosted its stake 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 last quarter. Buckhead Capital Management LLC boosted its stake 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 last quarter. Finally, Signaturefd LLC boosted its stake in AMETEK by 1.5% during the 1st quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock valued at $796,000 after purchasing an additional 67 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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.