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 research report issued on Thursday. The brokerage currently has a $90.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.69% from the company’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 and is well positioned to capitalize on the proliferation of electronics content on next-generation planes. A sustained drive for geographic and market diversification has enabled Amphenol to extend its presence into new customers and new applications. 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. Amphenol outperformed the industry year to date. However, bulk of the company’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change.”
Several other analysts have also recently weighed in on APH. Royal Bank Of Canada reiterated a “buy” rating on shares of Amphenol Corporation in a research note on Thursday, June 1st. 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 boosted their target price for the company from $75.00 to $78.00 in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $72.00 target price on shares of Amphenol Corporation in a research report on Friday, July 14th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Amphenol Corporation has an average rating of “Buy” and an average price target of $79.75.
Amphenol Corporation (APH) traded down 0.3213% during mid-day trading on Thursday, reaching $80.3211. The company’s stock had a trading volume of 155,573 shares. The firm has a market capitalization of $24.53 billion, a PE ratio of 27.0441 and a beta of 0.76. The stock’s 50-day moving average is $78.21 and its 200-day moving average is $73.92. Amphenol Corporation has a 12 month low of $60.97 and a 12 month high of $81.17.
Amphenol Corporation (NYSE:APH) last announced 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 business 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%. Amphenol Corporation’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, equities analysts anticipate that Amphenol Corporation will post $3.09 EPS for the current year.
In other news, VP William J. Doherty sold 61,800 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $78.12, for a total value of $4,827,816.00. Following the completion of the sale, the vice president now owns 8,800 shares in the company, valued at $687,456. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Adam Norwitt sold 200,000 shares of the 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 completion of the sale, the chief executive officer now owns 293,992 shares of the company’s stock, valued at approximately $22,916,676.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 433,200 shares of company stock worth $33,886,886. Corporate insiders own 2.51% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Amphenol Corporation by 0.5% in the first quarter. FMR LLC now owns 39,355,583 shares of the electronics maker’s stock valued at $2,800,937,000 after purchasing an additional 208,471 shares during the last quarter. Vanguard Group Inc. boosted its position in Amphenol Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 30,560,224 shares of the electronics maker’s stock worth $2,255,957,000 after purchasing an additional 765,862 shares during the period. Capital World Investors boosted its position in Amphenol Corporation by 0.9% during the second quarter. Capital World Investors now owns 26,040,751 shares of the electronics maker’s stock worth $1,922,328,000 after purchasing an additional 236,214 shares during the period. BlackRock Inc. boosted its position in Amphenol Corporation by 2,540.0% during the first quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock worth $1,356,586,000 after purchasing an additional 18,339,185 shares during the period. Finally, State Street Corp boosted its position in Amphenol Corporation by 1.7% during the first quarter. State Street Corp now owns 12,171,868 shares of the electronics maker’s stock worth $866,273,000 after purchasing an additional 203,486 shares during the period. Institutional investors own 96.87% of the company’s stock.
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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