Amphenol Corp. (APH) Downgraded by Zacks Investment Research to Hold
Amphenol Corp. (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “The diversification in end markets, with a consistent focus on technology innovation and customer support, enable Amphenol to post strong results. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team add to its strengths. With strong second-quarter 2016 results, Amphenol offered a bullish guidance for 2016 on the back of accretive acquisitions and solid demand. The company has a positive earnings history in the trailing four quarters. Estimates have also remained steady in the last 30 days ahead of the third-quarter results. However, increasing cost of raw materials, cut-throat competition and foreign currency risks remain headwinds in a challenging macroeconomic environment. Huge operating costs through sustained R&D efforts often impact its return on investments. In addition, continued acquisition binge is also expected to be a drag on operating results.”
APH has been the subject of a number of other research reports. RBC Capital Markets lifted their price objective on Amphenol Corp. from $63.00 to $65.00 and gave the company a “top pick” rating in a research report on Friday, August 26th. Royal Bank Of Canada boosted their price target on Amphenol Corp. from $61.00 to $63.00 and gave the stock a “top pick” rating in a research report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. raised Amphenol Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $70.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $68.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/amphenol-corp-aph-downgraded-by-zacks-investment-research-to-hold.html
Shares of Amphenol Corp. (NYSE:APH) traded up 0.72% on Tuesday, hitting $64.22. The stock had a trading volume of 2,175,272 shares. The stock has a market cap of $19.83 billion, a P/E ratio of 26.42 and a beta of 1.16. Amphenol Corp. has a 1-year low of $44.50 and a 1-year high of $65.18. The firm’s 50-day moving average is $61.23 and its 200 day moving average is $58.45.
Amphenol Corp. (NYSE:APH) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Amphenol Corp. had a return on equity of 23.72% and a net margin of 13.03%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts forecast that Amphenol Corp. will post $2.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.88%. Amphenol Corp.’s dividend payout ratio is 23.05%.
In other news, VP Patrick Gillard sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $59.06, for a total value of $1,771,800.00. Following the sale, the vice president now directly owns 6,400 shares in the company, valued at approximately $377,984. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Adam Norwitt sold 262,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $59.01, for a total value of $15,460,620.00. Following the completion of the sale, the insider now owns 137,992 shares in the company, valued at $8,142,907.92. The disclosure for this sale can be found here. Corporate insiders own 2.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in APH. NN Investment Partners Holdings N.V. bought a new stake in Amphenol Corp. during the first quarter valued at $103,000. BlueMountain Capital Management LLC bought a new stake in Amphenol Corp. during the first quarter valued at $139,000. Van ECK Associates Corp raised its stake in Amphenol Corp. by 30.0% in the second quarter. Van ECK Associates Corp now owns 2,738 shares of the company’s stock valued at $157,000 after buying an additional 632 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Amphenol Corp. during the second quarter valued at $181,000. Finally, Quadrant Capital Group LLC raised its stake in Amphenol Corp. by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 3,215 shares of the company’s stock valued at $181,000 after buying an additional 99 shares in the last quarter. Institutional investors own 96.85% of the company’s stock.
Amphenol Corp. 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: Interconnect Products and Assemblies, and Cable Products and Solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.