Ametek has posted double-digit earnings growth for at least the past four quarters. Its stock hit an all-time high in August, and looks to be heading there again. On Wednesday the Relative Strength (RS) Rating for Ametek stock got an upgrade from 68 to 71.
Its upgraded 71 RS Rating shows that Ametek stock tops 70% of all stocks for price appreciation over the past year. It's a good but not yet great rating. Research shows that the market's winners often have an RS Rating north of 80 as they launch their biggest runs. See if Ametek can continue to show renewed price strength and clear that threshold.
Looking For The Best Stocks To Buy And Watch? Start Here
Ametek, based in Berwyn, Pa., outside of Philadelphia, makes electronic instruments and electromechanical devices for a variety of markets including green energy, aerospace, medical and scientific research.
Ametek Stock Ratings Shine
Among its other ratings Ametek stock has a strong 85 Composite Rating out of 99. It also boasts an excellent 91 Earnings Per Share Rating.
Additionally, it carries a best-possible A SMR Rating (sales + profit margins + return on equity) reflecting its strong fundamentals. And it has a B Accumulation/Distribution Rating on an A+ to E scale, showing that institutional investors like insurance company funds and ETFs are fairly heavy buyers of its stock.
Ametek stock is working on a consolidation with a 164.75 buy point. See if it can clear the breakout price in volume at least 40% higher than normal. It hit an all-time high on Aug. 1 at 164.75 then consolidated, dropping to 136.89 on Oct. 31. Lately it's been on the rise again and closed at 154.48 Wednesday, up 0.6% for the day and 14% above its end of October price.
Double-Digit Profit Growth
Ametek reported 13% earnings growth in its most recent report, to $1.64 per share on 5% sales growth to $1.62 billion. Its earnings growth over the last four quarters has ranged between 11% and 14%.
Ametek stock earns the No. 6 rank among its peers in the 45-stock Electrical Power/Equipment industry group. Vertiv Holdings and nVent Electric are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, a stock's price strength relative to other stocks is a useful indicator.
IBD's unique RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
