Amphenol Corporation (APH) Rating Increased 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 brokerage currently has a $89.00 price target on the electronics maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.54% from the company’s previous close.
According to Zacks, “Amphenol’s top-line growth is benefiting from improved end-market demand, new product rollouts, and market share gains. Demand continues to be strong in automotive, mobile networks and military markets. Amphenol 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. Amphenol also expects to leverage on the solid growth potential of the acquired companies to drive robust performance in the future. 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 on diligent execution of plans. However, increasing cost of raw materials is a matter of concern and is likely to be a drag on its profitability.”
A number of other research analysts have also issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and set a $72.00 target price on shares of Amphenol Corporation in a research report on Monday, August 14th. BidaskClub upgraded Amphenol Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Goldman Sachs Group, Inc. (The) lowered Amphenol Corporation from a “buy” rating to a “neutral” rating and increased their target price for the company from $75.00 to $78.00 in a research report on Wednesday, July 5th. Royal Bank Of Canada increased their target price on Amphenol Corporation from $77.00 to $80.00 and gave the company a “top pick” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley increased their target price on Amphenol Corporation from $64.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Amphenol Corporation presently has an average rating of “Buy” and an average target price of $79.00.
Amphenol Corporation (APH) opened at 79.79 on Thursday. The company has a 50-day moving average of $76.91 and a 200-day moving average of $73.26. The company has a market capitalization of $24.37 billion, a PE ratio of 26.87 and a beta of 0.77. Amphenol Corporation has a 52 week low of $60.97 and a 52 week high of $80.14.
Amphenol Corporation (NYSE:APH) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Amphenol Corporation will post $3.09 EPS for the current year.
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In other Amphenol Corporation news, VP Martin Booker sold 46,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.42, for a total value of $3,469,320.00. Following the transaction, the vice president now owns 20,400 shares in the company, valued at approximately $1,538,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 200,000 shares of the firm’s 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 in the company, valued at approximately $22,916,676.40. The disclosure for this sale can be found here. Insiders sold a total of 633,200 shares of company stock worth $48,642,716 in the last 90 days. 2.51% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of Amphenol Corporation by 66.3% in the fourth quarter. Macquarie Group Ltd. now owns 16,300 shares of the electronics maker’s stock worth $1,095,000 after buying an additional 6,500 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Amphenol Corporation during the first quarter worth about $399,000. Candriam Luxembourg S.C.A. increased its stake in shares of Amphenol Corporation by 6.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 20,092 shares of the electronics maker’s stock worth $1,430,000 after buying an additional 1,267 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Amphenol Corporation by 112.3% in the first quarter. Janney Montgomery Scott LLC now owns 6,686 shares of the electronics maker’s stock worth $476,000 after buying an additional 3,536 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Amphenol Corporation by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 172,261 shares of the electronics maker’s stock worth $12,265,000 after buying an additional 9,832 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.
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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