Zacks Investment Research Downgrades Amphenol Corporation (APH) to Hold
Amphenol Corporation (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 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, increasing cost of raw materials is likely to be a drag on its profitability. Bulk of the company’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. In addition, these markets are dominated by several large manufacturers and operators who exert significant price pressure on Amphenol.”
A number of other research analysts have also recently issued reports on APH. BidaskClub raised Amphenol Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Royal Bank Of Canada raised their price objective on Amphenol Corporation from $77.00 to $80.00 and gave the company a “top pick” rating in a research note on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $72.00 price objective on shares of Amphenol Corporation in a research note on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) cut Amphenol Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $78.00 in a research note on Wednesday, July 5th. Three investment 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 company’s stock. Amphenol Corporation has a consensus rating of “Buy” and a consensus target price of $79.75.
Shares of Amphenol Corporation (NYSE:APH) traded up 0.01% during midday trading on Wednesday, hitting $80.52. 709,948 shares of the company were exchanged. The company’s 50 day moving average price is $78.49 and its 200 day moving average price is $74.01. Amphenol Corporation has a one year low of $60.97 and a one year high of $81.17. The firm has a market cap of $24.59 billion, a P/E ratio of 27.11 and a beta of 0.76.
Amphenol Corporation (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.62 billion. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Equities analysts expect that Amphenol Corporation will post $3.09 EPS for the current year.
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In other Amphenol Corporation news, CFO Craig A. Lampo sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $79.70, for a total value of $1,195,500.00. Following the completion of the sale, the chief financial officer now directly owns 40,000 shares in the company, valued at $3,188,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luc Walter sold 110,400 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $77.70, for a total transaction of $8,578,080.00. Following the completion of the sale, the senior vice president now owns 130,400 shares of the company’s stock, valued at $10,132,080. The disclosure for this sale can be found here. Insiders sold 433,200 shares of company stock valued at $33,886,886 over the last 90 days. 2.51% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Birch Hill Investment Advisors LLC purchased a new position in shares of Amphenol Corporation during the first quarter valued at approximately $105,000. Dupont Capital Management Corp purchased a new stake in Amphenol Corporation during the second quarter valued at approximately $109,000. People s United Financial Inc. lifted its position in Amphenol Corporation by 6.8% during the second quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock valued at $110,000 after acquiring an additional 95 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in Amphenol Corporation by 300.0% during the first quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock valued at $114,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in Amphenol Corporation during the first quarter valued at approximately $121,000. Hedge funds and other 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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