Cowen & Co. Believes Ametek Inc (NYSE: AME) Won’t Stop Here

By Austin Angelo

Cowen & Co. analyst Joseph Giordano reiterated a Buy rating on Ametek Inc (NYSE: AME) on December 21 and set a price target of $80. The company’s shares closed yesterday at $72.60, close to its 52-week high of $73.06.

According to TipRanks.com, Giordano is a 5-star analyst with an average return of 27.0% and a 80.6% success rate. Giordano covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Rockwell Automation Inc, and Mueller Water Products.

Currently, the analyst consensus on Ametek Inc is Strong Buy and the average price target is $76.88, representing a 5.9% upside.

In a report issued on December 11, BMO Capital also maintained a Buy rating on the stock with a $80 price target.

The company has a one-year high of $73.06 and a one-year low of $48.21. Currently, Ametek Inc has an average volume of 1.22M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Earlier this month, David Zapico, the CEO of AME sold 25,965 shares for a total of $1,863,508.

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.