Ametek Inc (AME) Receives a Buy from Cowen & Co.

By Ryan Adsit

Cowen & Co. analyst Joseph Giordano reiterated a Buy rating on Ametek Inc (NYSE: AME) on August 10 and set a price target of $85. The company’s shares closed on Friday at $75.88.

According to TipRanks.com, Giordano is a 5-star analyst with an average return of 20.6% and a 76.2% success rate. Giordano covers the Industrial Goods sector, focusing on stocks such as Roper Technologies, Parker Hannifin, and Idex Corp.

Ametek Inc has an analyst consensus of Strong Buy, with a price target consensus of $87.20, representing a 14.9% upside. In a report issued on July 31, BMO Capital also reiterated a Buy rating on the stock with a $93 price target.

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Based on Ametek Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $194 million. In comparison, last year the company had a net profit of $150 million.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.

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