Robert W. Baird Trims AMETEK (NYSE:AME) Target Price to $140.00

AMETEK (NYSE:AMEGet Rating) had its target price lowered by stock analysts at Robert W. Baird from $156.00 to $140.00 in a research note issued on Tuesday, Marketbeat reports. The firm currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential upside of 16.08% from the company’s current price.

Several other equities analysts have also recently weighed in on AME. Zacks Investment Research raised AMETEK from a “sell” rating to a “hold” rating and set a $134.00 target price on the stock in a research note on Tuesday, April 19th. Morgan Stanley cut their target price on shares of AMETEK from $159.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 14th. StockNews.com initiated coverage on shares of AMETEK in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, KeyCorp cut their price objective on AMETEK from $155.00 to $145.00 in a report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $147.60.

Shares of AME stock traded down $1.23 during trading hours on Tuesday, reaching $120.61. 29,991 shares of the stock traded hands, compared to its average volume of 1,089,540. The company has a quick ratio of 0.87, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $27.85 billion, a PE ratio of 26.99, a PEG ratio of 2.42 and a beta of 1.26. AMETEK has a 1-year low of $118.94 and a 1-year high of $148.07. The business has a fifty day moving average price of $129.97 and a 200 day moving average price of $135.29.

AMETEK (NYSE:AMEGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Research analysts expect that AMETEK will post 5.42 earnings per share for the current fiscal year.

In other news, Director Anthony James Conti sold 5,160 shares of the stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $133.37, for a total value of $688,189.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas A. Amato sold 615 shares of the business’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $133.03, for a total transaction of $81,813.45. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in AMETEK during the fourth quarter worth about $25,000. Gryphon Financial Partners LLC acquired a new stake in shares of AMETEK during the 1st quarter worth approximately $25,000. Prospera Financial Services Inc bought a new stake in shares of AMETEK during the first quarter valued at approximately $29,000. Intelligent Financial Strategies acquired a new position in shares of AMETEK in the fourth quarter valued at $35,000. Finally, Riverview Trust Co bought a new position in AMETEK in the first quarter worth $32,000. Institutional investors own 86.72% of the company’s stock.

AMETEK Company Profile (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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