Ametek (AME - Free Report) shares ended the last trading session 3.7% higher at $129.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10% gain over the past four weeks.
AMETEK extended its rally, driven by positive contributions from strategic acquisitions and strength in AMETEK Growth Model. Further, proper execution of the company’s core growth strategies — operational excellence, global market expansion, investments in product development and acquisitions, is instilling investor optimism in the stock.
This maker of electronic instruments and electromechanical devices is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of +8.7%. Revenues are expected to be $1.52 billion, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ametek, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AME going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Ametek is a member of the Zacks Electronics - Testing Equipment industry. One other stock in the same industry, Cognex Corporation (CGNX - Free Report) , finished the last trading session 3% higher at $47.11. CGNX has returned 8.5% over the past month.
For Cognex Corporation, the consensus EPS estimate for the upcoming report has changed -10.5% over the past month to $0.12. This represents a change of -70% from what the company reported a year ago. Cognex Corporation currently has a Zacks Rank of #3 (Hold).
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Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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Ametek (AME - Free Report) shares ended the last trading session 3.7% higher at $129.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10% gain over the past four weeks.
AMETEK extended its rally, driven by positive contributions from strategic acquisitions and strength in AMETEK Growth Model. Further, proper execution of the company’s core growth strategies — operational excellence, global market expansion, investments in product development and acquisitions, is instilling investor optimism in the stock.
This maker of electronic instruments and electromechanical devices is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of +8.7%. Revenues are expected to be $1.52 billion, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ametek, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AME going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Ametek is a member of the Zacks Electronics - Testing Equipment industry. One other stock in the same industry, Cognex Corporation (CGNX - Free Report) , finished the last trading session 3% higher at $47.11. CGNX has returned 8.5% over the past month.
For Cognex Corporation, the consensus EPS estimate for the upcoming report has changed -10.5% over the past month to $0.12. This represents a change of -70% from what the company reported a year ago. Cognex Corporation currently has a Zacks Rank of #3 (Hold).
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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