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

By Jason Carr

In a report released yesterday, Deane Dray from RBC Capital reiterated a Buy rating on Ametek Inc (NYSE: AME), with a price target of $67. The company’s shares opened today at $61.38, close to its 52-week high of $62.19.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 5.7% and a 61.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Emerson Electric Company, and United Technologies Corp.

Ametek Inc has an analyst consensus of Strong Buy, with a price target consensus of $65.75.

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 77 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. The Electronic Instruments Group segment focuses on the process and analytical instrumentation for the chemical and petrochemical, oil, gas, pharmaceutical, semiconductor, and factory automation markets. The Electromechanical Group segment deals with the precision motion control products used in data storage, medical devices, business equipment, factory automation, and other applications. The company was founded in 1930 and is headquartered in Berwyn, PA.