AMTEK, Inc. (AME) Cut to Hold at BidaskClub
AMTEK, Inc. (NYSE:AME) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts also recently issued reports on AME. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price target (up from $63.00) on shares of AMTEK in a report on Wednesday, May 3rd. BMO Capital Markets restated an “outperform” rating and issued a $67.00 price target (up from $65.00) on shares of AMTEK in a report on Wednesday, May 3rd. Morgan Stanley increased their price target on AMTEK from $57.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $67.00 price target on shares of AMTEK in a report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. AMTEK presently has an average rating of “Buy” and an average price target of $65.09.
Shares of AMTEK (NYSE:AME) traded up 0.30% on Friday, hitting $62.93. The stock had a trading volume of 213,818 shares. The firm has a 50 day moving average price of $61.79 and a 200-day moving average price of $57.65. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 27.61 and a beta of 1.34. AMTEK has a 52 week low of $43.98 and a 52 week high of $64.97.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Analysts anticipate that AMTEK will post $2.52 EPS for the current year.
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In other news, insider Timothy N. Jones sold 39,955 shares of AMTEK stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $61.95, for a total value of $2,475,212.25. Following the transaction, the insider now owns 40,025 shares in the company, valued at approximately $2,479,548.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ronald J. Oscher sold 5,315 shares of AMTEK stock in a transaction on Friday, May 19th. The shares were sold at an average price of $60.05, for a total value of $319,165.75. Following the completion of the transaction, the insider now owns 32,131 shares in the company, valued at approximately $1,929,466.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,370 shares of company stock worth $3,432,699. 2.10% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of AME. Commonwealth Bank of Australia increased its position in shares of AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares in the last quarter. First Personal Financial Services increased its position in shares of AMTEK by 23.9% in the first quarter. First Personal Financial Services now owns 2,075 shares of the technology company’s stock worth $112,000 after buying an additional 400 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMTEK during the second quarter worth about $151,000. Van ECK Associates Corp increased its position in shares of AMTEK by 7.0% in the first quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after buying an additional 196 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock worth $175,000 after buying an additional 19 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
AMTEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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