Zacks Investment Research Upgrades Amphenol Corporation (APH) to “Buy”
Zacks Investment Research upgraded shares of Amphenol Corporation (NYSE:APH) from a hold rating to a buy rating in a report released on Friday morning. They currently have $93.00 target price on the electronics maker’s stock.
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. The diversification in end markets with a consistent focus on technology innovation and customer support through all phases of the economic cycle further enable the company to post strong results. 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. Management also raised its earlier guidance and has bullish revenue and earnings expectations for 2017. Amphenol outperformed the industry year to date. However, bulk of the revenues comes from sales to the communications industry, demand for which is subject to rapid technological change.”
Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Amphenol Corporation from a buy rating to a strong-buy rating in a report on Saturday, August 12th. Royal Bank Of Canada lifted their target price on shares of Amphenol Corporation from $77.00 to $80.00 and gave the company a top pick rating in a report on Tuesday, June 27th. Stifel Nicolaus reiterated a hold rating and set a $72.00 target price on shares of Amphenol Corporation in a report on Monday, August 14th. Finally, Goldman Sachs Group Inc lowered shares of Amphenol Corporation from a buy rating to a neutral rating and lifted their target price for the company from $75.00 to $78.00 in a report 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. The company has a consensus rating of Buy and an average target price of $80.13.
Shares of Amphenol Corporation (NYSE:APH) opened at 81.92 on Friday. The firm’s 50-day moving average price is $79.80 and its 200-day moving average price is $74.70. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 27.58 and a beta of 0.76. Amphenol Corporation has a one year low of $62.63 and a one year high of $83.81.
Amphenol Corporation (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the business posted $0.65 earnings per share. Amphenol Corporation’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that Amphenol Corporation will post $3.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. This is a positive change from Amphenol Corporation’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 15th. Amphenol Corporation’s dividend payout ratio (DPR) is presently 25.59%.
In related news, CFO Craig A. Lampo sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $80.98, for a total transaction of $1,214,700.00. Following the completion of the sale, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $3,239,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Silverman sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $80.04, for a total transaction of $1,280,640.00. Following the sale, the vice president now directly owns 16,000 shares of the company’s stock, valued at approximately $1,280,640. 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 quarter. Company insiders own 2.51% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Amphenol Corporation by 0.5% during the first quarter. FMR LLC now owns 39,355,583 shares of the electronics maker’s stock valued at $2,800,937,000 after acquiring an additional 208,471 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Amphenol Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 30,560,224 shares of the electronics maker’s stock valued at $2,255,957,000 after acquiring an additional 765,862 shares in the last quarter. Capital World Investors increased its position in shares of Amphenol Corporation by 0.9% during the second quarter. Capital World Investors now owns 26,040,751 shares of the electronics maker’s stock valued at $1,922,328,000 after acquiring an additional 236,214 shares in the last quarter. BlackRock Inc. increased its position in shares of Amphenol Corporation by 2,540.0% during the first quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock valued at $1,356,586,000 after acquiring an additional 18,339,185 shares in the last quarter. Finally, State Street Corp increased its position in shares of Amphenol Corporation by 1.7% during the first quarter. State Street Corp now owns 12,171,868 shares of the electronics maker’s stock valued at $866,273,000 after acquiring an additional 203,486 shares in the last quarter. 96.88% of the stock is owned by institutional investors.
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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