AMETEK (NYSE:AME) Upgraded at Melius Research

AMETEK (NYSE:AME) was upgraded by equities research analysts at Melius Research to a “hold” rating in a report released on Monday,Zacks.com reports.

AME has been the topic of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Robert W. Baird cut their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Truist Financial lifted their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a research note on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $197.30.

AMETEK Stock Performance

AME stock opened at $176.45 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41. The stock has a market capitalization of $40.74 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.67 and a beta of 1.09. AMETEK has a 1 year low of $145.02 and a 1 year high of $198.33. The stock’s fifty day moving average is $178.98 and its two-hundred day moving average is $176.92.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share. On average, research analysts predict that AMETEK will post 7.15 EPS for the current year.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently bought and sold shares of the stock. Bares Capital Management Inc. purchased a new position in AMETEK in the 1st quarter worth about $26,000. Olde Wealth Management LLC purchased a new position in AMETEK in the 1st quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in AMETEK by 57.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Banque Transatlantique SA purchased a new position in AMETEK in the 4th quarter worth about $37,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AMETEK in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.