AMETEK (AME) is Downgraded by Robert W. Baird to Neutral, Raises Price Target to $ 51

AMETEK (AME) was Downgraded by Robert W. Baird to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 51 from a previous price target of $49 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on AMETEK. Shares were Reiterated by RBC Capital Mkts on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 58 from a previous price target of $63 .Shares were Reiterated by Oppenheimer on Feb 8, 2016 to “Outperform” and Lowered the Price Target to $ 56 from a previous price target of $59 .

On the company’s financial health, AMETEK reported $0.63 EPS for the quarter, based on the information available during the earnings call on Feb 5, 2016. Analyst had a consensus estimate of $0.63. The company had revenue of $988.00 million for the quarter, compared to analysts expectations of $1008.08 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

AMETEK opened for trading at $51.6 and hit $52.605 on the upside on Wednesday, eventually ending the session at $52.34, with a gain of 1.43% or 0.74 points. The heightened volatility saw the trading volume jump to 16,68,455 shares. Company has a market cap of $12,328 M.

In a different news, on Apr 6, 2016, Charles D Klein (director) sold 20,000 shares at $48.90 per share price. According to the SEC, on Mar 15, 2016, Dennis K Williams (director) sold 8,820 shares at $48.46 per share price. On Mar 14, 2016, Steven W Kohlhagen (director) sold 1,500 shares at $47.77 per share price, according to the Form-4 filing with the securities and exchange commission.

AMETEK Inc. (AMETEK) is a manufacturer of electronic instruments and electromechanical devices with operations in North America Europe Asia and South America. AMETEK markets and sells its products through two groups: Electronic Instruments (EIG) and Electromechanical (EMG). The Company’s EIG segment designs and manufactures advanced instruments for the process aerospace power and industrial markets. It offers process control instruments for the oil and gas petrochemical pharmaceutical semiconductor and factory automation industries. The Company’s EMG segment offers electrical connectors and electronics packaging used in aerospace and defense medical and industrial applications as well as its advanced technical motor and motion control products which are used in a range of medical devices office and business equipment factory automation robotics and other applications.


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