Amphenol Corporation (APH) Cut 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 research note issued to investors on Wednesday.
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. 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. The company outperformed the industry year to date. Management also raised its earlier guidance for 2017. 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 also a matter of concern and is likely to be an additional drag on profitability. In addition, unfavorable movement in foreign currency exchange rates often adversely impact sales, thereby affecting its long-term growth to some extent.”
A number of other brokerages have also recently weighed in on APH. BidaskClub cut shares of Amphenol Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) cut shares of Amphenol Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $78.00 in a research report on Wednesday, July 5th. Stifel Nicolaus lifted their price target on shares of Amphenol Corporation from $64.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, April 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Amphenol Corporation in a research report on Thursday, June 1st. Finally, Deutsche Bank AG lifted their price target 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 research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.00.
Shares of Amphenol Corporation (APH) traded down 0.67% during mid-day trading on Wednesday, reaching $78.42. 873,963 shares of the company’s stock traded hands. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 26.40 and a beta of 0.77. Amphenol Corporation has a 52 week low of $60.28 and a 52 week high of $79.70. The company’s 50 day moving average is $76.14 and its 200-day moving average is $72.82.
Amphenol Corporation (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The company 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 period last year, the firm posted $0.65 earnings per share. Equities analysts expect that Amphenol Corporation will post $3.09 earnings per share for the current fiscal year.
In related news, Director Diana G. Reardon sold 200,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $74.91, for a total value of $14,982,000.00. Following the sale, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $14,982,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Zachary W. Raley sold 432,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $74.12, for a total transaction of $32,019,840.00. Following the completion of the sale, the senior vice president now directly owns 144,000 shares in the company, valued at $10,673,280. The disclosure for this sale can be found here. Insiders sold a total of 1,050,200 shares of company stock worth $79,467,056 over the last ninety days. 2.51% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Birch Hill Investment Advisors LLC bought a new stake in Amphenol Corporation during the first quarter valued at approximately $105,000. Dupont Capital Management Corp bought a new stake in Amphenol Corporation during the second quarter valued at approximately $109,000. People s United Financial Inc. boosted its stake in 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 valued at $110,000 after buying an additional 95 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Amphenol Corporation by 300.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock valued at $114,000 after buying an additional 1,200 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Amphenol Corporation during the first quarter valued at approximately $121,000. 95.99% of the stock is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amphenol Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol Corporation and related companies with MarketBeat.com's FREE daily email newsletter.