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, 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.

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