AMETEK (AME) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 53

AMETEK (AME) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 53 from a previous price target of $56 . RBC Capital Mkts advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, AMETEK reported $0.59 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.59. The company had revenue of $977.70 million for the quarter, compared to analysts expectations of $985.76 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

AMETEK closed down -0.94 points or -2.01% at $45.91 with 43,62,330 shares getting traded on Thursday. Post opening the session at $43.5, the shares hit an intraday low of $43.3 and an intraday high of $46.72 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jul 7, 2016, Thomas C Marecic (PRES. – ELECTRONIC INSTRUMENTS) sold 6,500 shares at $44.89 per share price. According to the SEC, on Jul 1, 2016, John Wesley Hardin (PRES. – ELECTRONIC INSTRUMENTS) sold 3,000 shares at $46.03 per share price. On May 31, 2016, James R Malone (director) sold 1,350 shares at $47.83 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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