Amphenol Corporation (APH) Lifted 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 research report issued on Monday, October 2nd. The firm presently has a $95.00 price target on the electronics maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.94% from the stock’s previous close.
According to Zacks, “Amphenol’s top-line growth 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 augur well for its long-term growth perspectives. The ongoing revolution in electronics enables Amphenol to capitalize on the opportunities and strengthen its position in the market. Amphenol also expects to leverage on the solid growth potential of the acquired companies to drive robust performance in the future. Despite the uncertainties prevailing in the global economy, management raised its earlier guidance and has bullish revenue and earnings expectations for 2017. Amphenol has 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.”
APH has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “top pick” rating and issued a $85.00 price target (up previously from $81.00) on shares of Amphenol Corporation in a research note on Tuesday, August 29th. Bank of America Corporation raised Amphenol Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, September 29th. BidaskClub raised Amphenol Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $72.00 price target on shares of Amphenol Corporation in a research note on Monday, August 14th. Finally, Goldman Sachs Group, Inc. (The) lowered Amphenol Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $75.00 to $78.00 in a research note on Wednesday, July 5th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $83.50.
Amphenol Corporation (NYSE APH) traded down 0.65% during midday trading on Monday, hitting $87.20. 2,095,150 shares of the stock traded hands. The stock has a market cap of $26.63 billion, a PE ratio of 29.36 and a beta of 0.79. The company has a 50-day moving average of $83.01 and a 200-day moving average of $76.42. Amphenol Corporation has a 12 month low of $62.72 and a 12 month high of $88.00.
Amphenol Corporation (NYSE:APH) last issued its quarterly earnings results 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. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, equities research analysts anticipate that Amphenol Corporation will post $3.10 earnings per share for the current year.
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In other Amphenol Corporation news, CFO Craig A. Lampo sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $79.70, for a total transaction of $1,195,500.00. Following the sale, the chief financial officer now owns 40,000 shares in the company, valued at approximately $3,188,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard Adam Norwitt sold 200,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $77.95, for a total value of $15,590,000.00. Following the sale, 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. In the last 90 days, insiders have sold 433,200 shares of company stock worth $33,886,886. 2.51% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Marvin & Palmer Associates Inc. increased its holdings in Amphenol Corporation by 27.0% during the 2nd quarter. Marvin & Palmer Associates Inc. now owns 60,505 shares of the electronics maker’s stock worth $4,466,000 after purchasing an additional 12,855 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of Amphenol Corporation by 14.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 431,534 shares of the electronics maker’s stock valued at $31,855,000 after acquiring an additional 52,976 shares during the last quarter. Bfsg LLC purchased a new position in shares of Amphenol Corporation in the 1st quarter valued at about $2,072,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Amphenol Corporation by 14.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 699,047 shares of the electronics maker’s stock valued at $51,604,000 after acquiring an additional 87,704 shares during the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Amphenol Corporation by 21.9% in the 2nd quarter. Korea Investment CORP now owns 139,963 shares of the electronics maker’s stock valued at $10,332,000 after acquiring an additional 25,179 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.
Amphenol Corporation Company Profile
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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