Robert W. Baird Increases AMETEK (NYSE:AME) Price Target to $198.00

Key Points

• Robert W. Baird has raised the price target for AMETEK (NYSE:AME) from $190.00 to $198.00, indicating a potential upside of 8.68% from its previous close.
• Other analysts have also upgraded their targets, with Royal Bank of Canada setting a target of $212.00 and Truist Financial at $200.00, with overall consensus suggesting a "Moderate Buy" rating.
• AMETEK's most recent earnings report showed a net margin of 20.60% and revenue of $1.78 billion, surpassing analyst expectations.

AMETEK (NYSE:AME - Get Free Report) had its price objective hoisted by equities researchers at Robert W. Baird from $190.00 to $198.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. Robert W. Baird's price objective points to a potential upside of 8.68% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their target price on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research note on Friday. Melius Research upgraded shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. Truist Financial upped their target price on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Morgan Stanley began coverage on shares of AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price target on the stock. Finally, 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 note on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.91.

AMETEK Price Performance

Shares of NYSE AME opened at $182.18 on Monday. The stock's 50-day moving average is $179.44 and its two-hundred day moving average is $176.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The company's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Analysts forecast that AMETEK will post 7.15 EPS for the current fiscal year.

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently made changes to their positions in the business. Bares Capital Management Inc. purchased a new position in shares of AMETEK during the first quarter worth about $26,000. ST Germain D J Co. Inc. lifted its position in AMETEK by 628.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 153 shares of the technology company's stock worth $28,000 after acquiring an additional 132 shares during the period. Olde Wealth Management LLC purchased a new position in shares of AMETEK in the 1st quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of AMETEK by 57.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company's stock valued at $33,000 after purchasing an additional 71 shares during the period. Finally, Banque Transatlantique SA purchased a new stake in shares of AMETEK during the fourth quarter worth approximately $37,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Company Profile

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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