Amphenol (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Amphenol is benefiting from improved end-market demand in automotive, mobile networks and military markets. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team remain positives. Management raised its earlier guidance and has bullish revenue and earnings expectations for 2017. Amphenol has also outperformed the industry in the last three months. However, Amphenol is susceptible to volatility in foreign exchanges, which undermines its growth potential to some extent. 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 its profitability. Stiff competition from other players in the market remains another significant headwind for the company.”
Several other research analysts have also recently issued reports on APH. Bank of America raised shares of Amphenol from a “neutral” rating to a “buy” rating in a report on Friday, September 29th. Deutsche Bank reissued a “buy” rating and set a $95.00 price target (up from $80.00) on shares of Amphenol in a report on Thursday, October 5th. Cowen reissued an “outperform” rating and set a $95.00 price target (up from $85.00) on shares of Amphenol in a report on Tuesday, October 10th. Canaccord Genuity reissued a “hold” rating on shares of Amphenol in a report on Monday, October 16th. Finally, Stifel Nicolaus increased their price target on shares of Amphenol from $78.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $89.60.
Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Amphenol had a net margin of 14.73% and a return on equity of 25.63%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. equities research analysts predict that Amphenol will post 3.21 earnings per share for the current year.
In other Amphenol news, Director Diana G. Reardon sold 503,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $90.73, for a total value of $45,637,190.00. Following the completion of the transaction, the director now directly owns 260,000 shares of the company’s stock, valued at $23,589,800. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard Adam Norwitt sold 220,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $86.10, for a total transaction of $18,942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 216,492 shares of the company’s stock, valued at $18,639,961.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 849,000 shares of company stock valued at $75,518,690. 2.51% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. purchased a new position in Amphenol in the third quarter valued at about $3,008,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Amphenol during the 2nd quarter worth approximately $392,000. Whittier Trust Co. increased its stake in shares of Amphenol by 3,390.3% during the 3rd quarter. Whittier Trust Co. now owns 89,352 shares of the electronics maker’s stock worth $7,563,000 after purchasing an additional 86,792 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of Amphenol by 1.3% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 268,024 shares of the electronics maker’s stock worth $22,685,000 after purchasing an additional 3,402 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Amphenol during the 3rd quarter worth approximately $13,263,000. 96.58% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Amphenol (APH) Downgraded by Zacks Investment Research to “Hold”” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/22/amphenol-aph-downgraded-by-zacks-investment-research-to-hold.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol and related companies with MarketBeat.com's FREE daily email newsletter.