In a report released today, Christopher Glynn from Oppenheimer maintained a Hold rating on Ametek (AME – Research Report). The company’s shares closed yesterday at $166.08.
According to TipRanks, Glynn is a 5-star analyst with an average return of 15.2% and a 60.88% success rate. Glynn covers the Industrials sector, focusing on stocks such as Generac Holdings, Acuity Brands, and Ametek.
Ametek has an analyst consensus of Moderate Buy, with a price target consensus of $179.57, an 8.12% upside from current levels. In a report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $182.00 price target.
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Based on Ametek’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.62 billion and a net profit of $340.37 million. In comparison, last year the company earned a revenue of $1.55 billion and had a net profit of $297.64 million
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AME in relation to earlier this year. Most recently, in December 2023, David Zapico, the CEO of AME sold 75,876.00 shares for a total of $12,248,299.98.
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Ametek (AME) Company Description:
AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical devices. The company specializes in manufacturing instruments used for monitoring, examining, calibration and display purposes in the power, aerospace and industrial instrumentation markets. It also produces engineered electrical connectors and electronics packaging for electronic applications in defense, aerospace, medical and industrial markets.
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