Amphenol Corporation (APH) Upgraded to Buy by Zacks Investment Research
Amphenol Corporation (NYSE:APH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $93.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.06% from the stock’s current price.
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. The diversification in end markets with a consistent focus on technology innovation and customer support through all phases of the economic cycle further enable the company to post strong results. 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. Management also raised its earlier guidance and has bullish revenue and earnings expectations for 2017. 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.”
APH has been the topic of several other reports. Royal Bank Of Canada restated a “top pick” rating and set a $85.00 target price (up from $81.00) on shares of Amphenol Corporation in a research report on Tuesday, August 29th. Stifel Nicolaus restated a “hold” rating and set a $72.00 target price on shares of Amphenol Corporation in a research report on Monday, August 14th. BidaskClub cut shares of Amphenol Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Goldman Sachs Group, Inc. (The) cut shares of Amphenol Corporation from a “buy” rating to a “neutral” rating and upped their target price for the company from $75.00 to $78.00 in a research report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Amphenol Corporation presently has an average rating of “Buy” and an average price target of $80.13.
Shares of Amphenol Corporation (NYSE APH) traded up 0.26% on Friday, hitting $83.36. The stock had a trading volume of 428,823 shares. Amphenol Corporation has a 12 month low of $62.64 and a 12 month high of $83.81. The stock has a market cap of $25.46 billion, a PE ratio of 28.07 and a beta of 0.76. The company has a 50 day moving average price of $79.80 and a 200-day moving average price of $74.70.
Amphenol Corporation (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Amphenol Corporation will post $3.09 earnings per share for the current year.
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In related news, SVP Luc Walter sold 110,400 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $77.70, for a total transaction of $8,578,080.00. Following the transaction, the senior vice president now directly owns 130,400 shares in the company, valued at approximately $10,132,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Adam Norwitt sold 200,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $77.95, for a total transaction of $15,590,000.00. Following the transaction, the chief executive officer now owns 293,992 shares in the company, valued at $22,916,676.40. The disclosure for this sale can be found here. Insiders have sold a total of 433,200 shares of company stock worth $33,886,886 over the last quarter. 2.51% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. First Bank & Trust grew its stake in Amphenol Corporation by 0.5% in the 2nd quarter. First Bank & Trust now owns 8,644 shares of the electronics maker’s stock worth $638,000 after acquiring an additional 43 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in Amphenol Corporation by 1.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 3,930 shares of the electronics maker’s stock worth $290,000 after acquiring an additional 60 shares in the last quarter. Cleararc Capital Inc. grew its stake in Amphenol Corporation by 0.9% in the 1st quarter. Cleararc Capital Inc. now owns 7,543 shares of the electronics maker’s stock worth $537,000 after acquiring an additional 65 shares in the last quarter. Greenleaf Trust grew its stake in Amphenol Corporation by 0.4% in the 2nd quarter. Greenleaf Trust now owns 23,397 shares of the electronics maker’s stock worth $1,727,000 after acquiring an additional 95 shares in the last quarter. Finally, People s United Financial Inc. grew its stake in Amphenol Corporation by 6.8% in the 2nd quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock worth $110,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.
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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