Amphenol Corp. (APH) Downgraded to “Hold” at Zacks Investment Research
Amphenol Corp. (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 several other research reports. RBC Capital Markets upped their target price on shares of Amphenol Corp. from $63.00 to $65.00 and gave the company a “top pick” rating in a report on Friday, August 26th. Royal Bank Of Canada upped their target price on shares of Amphenol Corp. from $61.00 to $63.00 and gave the company a “top pick” rating in a report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $70.00 in a report on Tuesday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Amphenol Corp. presently has an average rating of “Buy” and an average target price of $68.11.
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Shares of Amphenol Corp. (NYSE:APH) traded up 0.78% on Tuesday, hitting $64.26. 1,397,130 shares of the company traded hands. Amphenol Corp. has a 12 month low of $44.50 and a 12 month high of $65.18. The company has a market capitalization of $19.84 billion, a PE ratio of 26.43 and a beta of 1.16. The stock’s 50-day moving average price is $61.23 and its 200-day moving average price is $58.45.
Amphenol Corp. (NYSE:APH) last issued its earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) 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 earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business posted $0.58 EPS. 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 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders 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 dividend yield of 0.88%. Amphenol Corp.’s dividend payout ratio is currently 23.05%.
In other Amphenol Corp. news, CFO Craig A. Lampo sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $60.07, for a total transaction of $1,321,540.00. Following the sale, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at approximately $2,102,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William J. Doherty sold 26,000 shares of the firm’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 sale, the vice president now directly owns 6,800 shares in the company, valued at $407,252. The disclosure for this sale can be found here. Company insiders own 2.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Reliance Trust Co. of Delaware raised its position in shares of Amphenol Corp. by 0.6% in the second quarter. Reliance Trust Co. of Delaware now owns 5,055 shares of the company’s stock valued at $290,000 after buying an additional 31 shares during the last quarter. Montag & Caldwell LLC raised its position in shares of Amphenol Corp. by 0.3% in the second quarter. Montag & Caldwell LLC now owns 13,244 shares of the company’s stock valued at $759,000 after buying an additional 40 shares during the last quarter. Commerce Bank raised its position in shares of Amphenol Corp. by 0.6% in the second quarter. Commerce Bank now owns 14,957 shares of the company’s stock valued at $857,000 after buying an additional 87 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of Amphenol Corp. by 0.8% in the second quarter. First Allied Advisory Services Inc. now owns 10,926 shares of the company’s stock valued at $628,000 after buying an additional 90 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of 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 during the last quarter. 96.85% of the stock is currently owned by institutional investors.
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.
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