Ametek Inc Receives a Buy from RBC Capital

By Austin Angelo

In a report issued on October 11, Deane Dray from RBC Capital reiterated a Buy rating on Ametek Inc (NYSE: AME), with a price target of $70. The company’s shares opened today at $67.55, close to its 52-week high of $67.65.

According to TipRanks.com, Dray is a 5-star analyst with an average return of 7.2% and a 68.0% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group Inc, Lincoln Electric Holdings, and Emerson Electric Company.

Currently, the analyst consensus on Ametek Inc is Strong Buy and the average price target is $70.57, representing a 4.5% upside.

In a report issued on October 6, Stifel Nicolaus also reiterated a Buy rating on the stock with a $70 price target.

Based on Ametek Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.06 billion and quarterly net profit of $150 million. In comparison, last year the company earned revenue of $945 million and had a net profit of $131 million.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. Last month, Frank Hermance, the COB & CEO of AME sold 150,840 shares for a total of $10,012,759.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AMETEK, Inc. engages in the manufacture of electronic instruments and electromechanical devices. It operates its business through Electronic Instruments Group and Electromechanical Group segments.