BMO Capital Believes Ametek Inc (NYSE: AME) Still Has Room to Grow

By Carrie Williams

In a report released today, Scott Graham from BMO Capital reiterated a Buy rating on Ametek Inc (NYSE: AME), with a price target of $67. The company’s shares closed yesterday at $60.42, close to its 52-week high of $62.89.

According to TipRanks.com, Graham is a 4-star analyst with an average return of 7.5% and a 63.1% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Thermon Group Holdings Inc, Northwest Pipe Company, and Gorman-Rupp Company.

Currently, the analyst consensus on Ametek Inc is Strong Buy and the average price target is $66.50, representing a 10.1% upside.

In a report issued on June 15, Jefferies also reiterated a Buy rating on the stock with a $66 price target.

Based on Ametek Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.01 billion and quarterly net profit of $139 million. In comparison, last year the company earned revenue of $944 million and had a net profit of $134 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Timothy N. Jones, the PRESIDENT – ELECTROMECHANICAL of AME sold 39,955 shares for a total of $2,475,112.

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.