AMTEK, Inc. (AME) Earns Buy Rating from Royal Bank Of Canada

AMTEK, Inc. (NYSE:AME)‘s stock had its “buy” rating reiterated by Royal Bank Of Canada in a research report issued on Friday. They currently have a $70.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 4.31% from the stock’s previous close.

AME has been the subject of a number of other research reports. Oppenheimer Holdings, Inc. boosted their price target on AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $67.00 price target on shares of AMTEK in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of AMTEK in a research note on Thursday, August 3rd. BidaskClub downgraded AMTEK from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research downgraded AMTEK from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $66.82.

AMTEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. AMTEK’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share.

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In other AMTEK news, VP Thomas M. Montgomery sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the transaction, the vice president now owns 21,747 shares in the company, valued at approximately $1,402,464.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total value of $189,720.00. Following the completion of the transaction, the director now owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AME. Stifel Financial Corp boosted its stake in AMTEK by 33.2% in the 1st quarter. Stifel Financial Corp now owns 14,807 shares of the technology company’s stock worth $802,000 after purchasing an additional 3,692 shares during the period. Neuberger Berman Group LLC boosted its stake in AMTEK by 19.1% in the 1st quarter. Neuberger Berman Group LLC now owns 7,243 shares of the technology company’s stock worth $392,000 after purchasing an additional 1,160 shares during the period. Van ECK Associates Corp boosted its stake in AMTEK by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after purchasing an additional 196 shares during the period. OppenheimerFunds Inc. boosted its stake in AMTEK by 0.3% in the 1st quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock worth $472,000 after purchasing an additional 30 shares during the period. Finally, Teachers Advisors LLC boosted its stake in AMTEK by 1.6% in the 1st quarter. Teachers Advisors LLC now owns 979,173 shares of the technology company’s stock worth $52,954,000 after purchasing an additional 15,802 shares during the period. Institutional investors and hedge funds own 85.62% 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.

Analyst Recommendations for AMTEK (NYSE:AME)

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