Amphenol Corporation (APH) Raised 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 note issued to investors on Thursday. The firm currently has a $92.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.87% from the stock’s current price.
According to Zacks, “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.”
Several other equities research analysts have also recently weighed in on APH. Royal Bank Of Canada restated a “top pick” rating and set a $85.00 target price (up from $81.00) on shares of Amphenol Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus restated a “hold” rating and set a $72.00 target price on shares of Amphenol Corporation in a research note on Monday, August 14th. BidaskClub upgraded Amphenol Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, Goldman Sachs Group, Inc. (The) cut Amphenol Corporation from a “buy” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $78.00 in a research note on Wednesday, July 5th. Three 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 company’s stock. The stock has an average rating of “Buy” and a consensus price target of $80.00.
Amphenol Corporation (NYSE APH) traded up 0.64% during trading on Thursday, hitting $82.24. The company had a trading volume of 536,369 shares. The stock has a 50-day moving average of $79.23 and a 200 day moving average of $74.36. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 27.69 and a beta of 0.76. Amphenol Corporation has a one year low of $62.36 and a one year high of $82.30.
Amphenol Corporation (NYSE:APH) last issued its quarterly earnings results 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 business 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. Equities analysts forecast that Amphenol Corporation will post $3.09 EPS for the current fiscal year.
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In other news, CFO Craig A. Lampo sold 15,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $80.98, for a total value of $1,214,700.00. Following the completion of the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at approximately $3,239,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 200,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $77.95, for a total value of $15,590,000.00. Following the completion of the transaction, the chief executive officer now owns 293,992 shares of the company’s stock, valued at $22,916,676.40. The disclosure for this sale can be found here. Insiders have sold 433,200 shares of company stock valued at $33,886,886 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Birch Hill Investment Advisors LLC bought a new position in shares of Amphenol Corporation in the 1st quarter valued at $105,000. Dupont Capital Management Corp bought a new position in shares of Amphenol Corporation in the 2nd quarter valued at $109,000. People s United Financial Inc. lifted its stake in shares of Amphenol Corporation by 6.8% in the 2nd 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 stake in shares of Amphenol Corporation by 300.0% in the 1st 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 bought a new position in shares of Amphenol Corporation in the 1st quarter valued at $121,000. 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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