Amphenol Corp. (APH) Raised to “Buy” at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. (NYSE:APH) from a neutral rating to a buy rating in a report issued on Tuesday. The brokerage currently has $70.00 price objective on the stock, up from their previous price objective of $60.00.
Several other brokerages also recently weighed in on APH. Zacks Investment Research downgraded shares of Amphenol Corp. from a buy rating to a hold rating in a report on Tuesday, June 21st. RBC Capital Markets lifted their price objective on shares of Amphenol Corp. from $63.00 to $65.00 and gave the company a top pick rating in a research report on Friday, August 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of Amphenol Corp. from $61.00 to $63.00 and gave the company a top pick rating in a research report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Amphenol Corp. has an average rating of Buy and a consensus price target of $68.11.
Shares of Amphenol Corp. (NYSE:APH) opened at 65.68 on Tuesday. The stock has a market cap of $20.28 billion, a PE ratio of 27.02 and a beta of 1.16. Amphenol Corp. has a 12 month low of $44.50 and a 12 month high of $65.77. The firm’s 50-day moving average is $61.73 and its 200 day moving average is $58.61.
Amphenol Corp. (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts predict that Amphenol Corp. will post $2.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 13th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. Amphenol Corp.’s dividend payout ratio is currently 23.05%.
In related news, VP Patrick Gillard sold 30,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $59.06, for a total value of $1,771,800.00. Following the completion of the sale, the vice president now directly owns 6,400 shares of the company’s stock, valued at $377,984. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William J. Doherty sold 26,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $59.89, for a total transaction of $1,557,140.00. Following the completion of the sale, the vice president now directly owns 6,800 shares of the company’s stock, valued at $407,252. The disclosure for this sale can be found here. Insiders own 2.92% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Amphenol Corp. by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,919,191 shares of the company’s stock worth $168,788,000 after buying an additional 156,760 shares during the period. Moore Capital Management LP acquired a new stake in Amphenol Corp. during the first quarter worth $5,493,000. Independent Portfolio Consultants Inc. raised its stake in Amphenol Corp. by 11.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,070 shares of the company’s stock worth $348,000 after buying an additional 630 shares during the period. Aviva PLC raised its stake in Amphenol Corp. by 1.4% in the first quarter. Aviva PLC now owns 157,811 shares of the company’s stock worth $9,125,000 after buying an additional 2,136 shares during the period. Finally, Sterling Ridge Capital Management LP acquired a new stake in Amphenol Corp. during the first quarter worth $457,000. 96.81% of the stock is owned by institutional investors.
About Amphenol Corp.
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and specialty cable. The Company operates through two segments: Interconnect Products and Assemblies, and Cable Products and Solutions.
Receive News & Ratings for Amphenol Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol Corp. and related companies with MarketBeat.com's FREE daily email newsletter.