AMETEK (NYSE:AME) Rating Increased to Hold at Wolfe Research

AMETEK (NYSE:AME) was upgraded by analysts at Wolfe Research to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

Several other brokerages have also recently weighed in on AME. Robert W. Baird cut their price objective on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial reduced their target price on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen dropped their price target on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Price Performance

Shares of NYSE:AME opened at $171.10 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $166.57 and a 200 day simple moving average of $171.39. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a market cap of $39.60 billion, a PE ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $1.57 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AMETEK will post 6.77 EPS for the current year.

Hedge Funds Weigh In On AMETEK

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in AMETEK by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC increased its position in AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after acquiring an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after purchasing an additional 61 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after purchasing an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds 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.