Ametek Inc. (AME): Today's Featured Industrial Winner
Ametek (AME) pushed the Industrial industry higher today making it today's featured industrial winner. The industry as a whole closed the day down 0.8%. By the end of trading, Ametek rose 32 cents (0.6%) to $50.71 on heavy volume. Throughout the day, 1.5 million shares of Ametek exchanged hands as compared to its average daily volume of 693,800 shares. The stock ranged in a price between $49.97-$50.95 after having opened the day at $50.30 as compared to the previous trading day's close of $50.39. Other companies within the Industrial industry that increased today were: Fuelcell Energy (FCEL), up 11.6%, Valence Technology (VLNC), up 10.4%, Hydrogenics Corporation (HYGS), up 8.5%, and Zoltek Companies (ZOLT), up 7.9%. AMETEK, Inc. manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. The company operates in two segments, Electronic Instruments Group and Electromechanical Group. Ametek has a market cap of $8.09 billion and is part of the industrial goods sector. The company has a P/E ratio of 20.2, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 19.7% year to date as of the close of trading on Wednesday. Currently there are nine analysts that rate Ametek a buy, no analysts rate it a sell, and three rate it a hold. TheStreet Ratings rates Ametek as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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