Amphenol Corporation (APH) Upgraded to Buy at 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 Thursday. The brokerage presently has a $89.00 price target on the electronics maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.73% from the company’s previous close.
According to Zacks, “Amphenol reported all-time high second-quarter 2017 results with healthy year-over-year increases in both earnings and revenues. Amphenol is benefiting from improved end-market demand, new product rollouts, and market share gains. Demand continues to be strong in automotive, mobile networks and military markets. Amphenol 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. The company outperformed the industry in the last three months on diligent execution of plans. However, bulk of the company’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. Furthermore, increasing cost of raw materials is a matter of concern and is likely to be an additional drag on its profitability.”
APH has been the subject of several other reports. Morgan Stanley boosted their target price on shares of Amphenol Corporation from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, April 28th. Royal Bank Of Canada boosted their target price on shares of Amphenol Corporation from $77.00 to $80.00 and gave the stock a “top pick” rating in a research report on Tuesday, June 27th. BidaskClub raised shares of Amphenol Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reissued a “hold” rating and set a $72.00 target price on shares of Amphenol Corporation in a research report on Monday. Finally, Deutsche Bank AG boosted their target price on shares of Amphenol Corporation from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. 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 stock. The stock has an average rating of “Buy” and a consensus target price of $79.00.
Shares of Amphenol Corporation (APH) traded down 0.47% during mid-day trading on Thursday, reaching $78.95. The company had a trading volume of 1,291,072 shares. The stock has a 50 day moving average of $76.01 and a 200-day moving average of $72.74. Amphenol Corporation has a one year low of $60.28 and a one year high of $79.70. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 26.58 and a beta of 0.77.
Amphenol Corporation (NYSE:APH) last posted its 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 company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.62 billion. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities analysts predict that Amphenol Corporation will post $3.09 EPS for the current year.
In other Amphenol Corporation news, VP Martin Booker sold 46,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.42, for a total value of $3,469,320.00. Following the completion of the sale, the vice president now directly owns 20,400 shares of the company’s stock, valued at approximately $1,538,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William J. Doherty sold 61,800 shares of the company’s stock in a transaction dated 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 a total of 1,050,200 shares of company stock valued at $79,467,056 over the last ninety days. 2.51% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Birch Hill Investment Advisors LLC purchased a new stake in shares of Amphenol Corporation during the first quarter worth about $105,000. Dupont Capital Management Corp purchased a new stake in shares of Amphenol Corporation during the second quarter worth about $109,000. People s United Financial Inc. increased its stake 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 buying an additional 95 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake 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 buying an additional 1,200 shares during the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in shares of Amphenol Corporation during the first quarter worth about $121,000. 95.99% of the stock is owned by institutional investors and hedge funds.
About Amphenol Corporation
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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