Amphenol Corporation (APH) Rating Lowered to Hold at Zacks Investment Research
Amphenol Corporation (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Amphenol’s top-line growth is benefiting from improved end-market demand in automotive, mobile networks and military markets. The company remains encouraged by its expanding presence in the fast-growing commercial aerospace market and is well positioned to capitalize on the proliferation of electronics content on next-generation planes. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team augur well for its long-term growth perspectives. Amphenol outperformed the industry year to date. However, bulk of the revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. The company is susceptible to volatility in foreign exchanges, which undermines its growth potential to some extent. Increasing cost of raw materials is also a matter of concern and is likely to be an additional drag on profitability.”
A number of other research firms have also commented on APH. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $85.00 price objective (up from $81.00) on shares of Amphenol Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus reaffirmed a “hold” rating and set a $72.00 price objective on shares of Amphenol Corporation in a research note on Monday, August 14th. BidaskClub raised shares of Amphenol Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Amphenol Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $78.00 in a research note on Wednesday, July 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $80.00.
Shares of Amphenol Corporation (APH) opened at 82.24 on Wednesday. Amphenol Corporation has a one year low of $62.36 and a one year high of $82.30. The stock has a market capitalization of $25.12 billion, a P/E ratio of 27.69 and a beta of 0.76. The stock’s 50 day moving average is $79.23 and its 200-day moving average is $74.36.
Amphenol Corporation (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that Amphenol Corporation will post $3.09 EPS for the current year.
In other news, CEO Richard Adam Norwitt sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $77.95, for a total value of $15,590,000.00. Following the completion of the sale, the chief executive officer now directly owns 293,992 shares of the company’s stock, valued at $22,916,676.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William J. Doherty sold 61,800 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $78.12, for a total transaction of $4,827,816.00. Following the completion of the sale, the vice president now directly owns 8,800 shares of the company’s stock, valued at $687,456. The disclosure for this sale can be found here. Insiders sold 433,200 shares of company stock valued at $33,886,886 over the last three months. 2.51% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of APH. Birch Hill Investment Advisors LLC purchased a new stake in shares of Amphenol Corporation in the first quarter worth approximately $105,000. Dupont Capital Management Corp purchased a new stake in shares of Amphenol Corporation in the second quarter worth approximately $109,000. People s United Financial Inc. lifted its position in shares of Amphenol Corporation by 6.8% in the second quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 95 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Amphenol Corporation by 300.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in shares of Amphenol Corporation in the first quarter worth approximately $121,000. 96.87% of the stock is owned by institutional investors and hedge funds.
Amphenol Corporation Company Profile
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, which include Interconnect Products and Assemblies, and Cable Products and Solutions.
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