Merrill Lynch Keeps Their Buy Rating on Ametek Inc (AME)
Merrill Lynch analyst Andrew Obin reiterated a Buy rating on Ametek Inc (AME) on September 27 and set a price target of $105.00. The company’s shares closed last Monday at $91.82, close to its 52-week high of $92.30.
According to TipRanks.com, Obin is a 4-star analyst with an average return of 7.6% and a 62.2% success rate. Obin covers the Industrial Goods sector, focusing on stocks such as Rexnord Corporation, General Electric, and Parker Hannifin.
Currently, the analyst consensus on Ametek Inc is a Strong Buy with an average price target of $98.00.
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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 $216 million. In comparison, last year the company had a net profit of $194 million.
Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AME in relation to earlier this year.
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AMETEK, Inc. engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments and Electromechanical. The Electronic Instruments segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.