U.S. Markets closed

AMETEK (AME) Appoints Tod E. Carpenter as the New Director

Zacks Equity Research

AMETEK’s AME board of directors has appointed Tod E. Carpenter as the new director. Prior to joining AMETEK, he was the Chairman, President and CEO of Donaldson Company, Inc. (DCI).

He had joined Donaldson in 1996 and held various responsible roles therein.

This latest move is expected to be beneficial for the company, courtesy of Carpenter’s solid industrial background.

AMETEK’s Chairman and Chief Executive Officer David A. Zapico said, "Tod is a seasoned operating executive with more than 35 years of global industrial experience. His proven success at Donaldson combined with his outstanding operating experience nicely complements our already strong Board of Directors".

A glimpse of the company’s price trend shows that AMETEK has outperformed the industry in the past year. The stock has gained 15% compared with the industry’s gain of 5.2% in the said period.

Factors at Play

AMETEK’s increased focus on innovation, robust organic growth and operational execution is expected to bode well in the near term.

The company’s well-performing segments and benefits from acquisitions should continue to drive the top line. The buyouts of Motec, Forza, Telular, Spectro Scientific and Soundcom are aiding growth of the company’s Electronic Instruments segment (EIG). Further, the FMH Aerospace acquisition is aiding sales in the Electromechanical segment (EMG).

During first-quarter2019, sales from the EIG segment reflected improvement of 13% and that of the EMG segment increased 5.4% on a year-over-year basis, driven by solid organic revenue growth.

We believe proper execution of core growth strategies like operational excellence, global market expansion, investments in product development and strategic acquisitions will continue to aid AMETEK’s business growth.

AMETEK, Inc. Price and Consensus

 

AMETEK, Inc. Price and Consensus

AMETEK, Inc. price-consensus-chart | AMETEK, Inc. Quote

Zacks Rank & Other Stocks to Consider

Currently, AMETEK has a Zacks Rank #2 (Buy). Other top-ranked stocks in the broader technology sector include Itron, Inc. ITRI, Teradyne, Inc. TER and AXT, Inc. AXTI, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth for Itron, Teradyne and AXT is currently projected at 25%, 9.8% and 15%, respectively.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
AXT Inc (AXTI) : Free Stock Analysis Report
 
Teradyne, Inc. (TER) : Free Stock Analysis Report
 
Itron, Inc. (ITRI) : Free Stock Analysis Report
 
AMETEK, Inc. (AME) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research