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Here's Why Ametek (AME) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Ametek (AME)

AMETEK, located in Berwyn, PA, is one of the leading manufacturers of electronic appliances and electromechanical devices. AMETEK has more than 120 operating sites all over the world.

AME is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 7.1% year-over-year for the current fiscal year, with sales growth of 10.1%.

Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $6.83 per share for 2024. AME boasts an average earnings surprise of 3.5%.

Ametek is also cash rich. The company has generated cash flow growth of 13.5%, and is expected to report cash flow expansion of 11.1% in 2024.

AME should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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AMETEK, Inc. (AME) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research