Amphenol Corp. (APH) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “The diversification in end markets, with a consistent focus on technology innovation and customer support, enable Amphenol to post strong results. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team add to its strengths. With strong second-quarter 2016 results, Amphenol offered a bullish guidance for 2016 on the back of accretive acquisitions and solid demand. The company has a positive earnings history in the trailing four quarters. Estimates have also remained steady in the last 30 days ahead of the third-quarter results. However, increasing cost of raw materials, cut-throat competition and foreign currency risks remain headwinds in a challenging macroeconomic environment. Huge operating costs through sustained R&D efforts often impact its return on investments. In addition, continued acquisition binge is also expected to be a drag on operating results.”
A number of other brokerages have also recently commented on APH. Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. from a neutral rating to a buy rating and boosted their target price for the company from $60.00 to $70.00 in a report on Tuesday. RBC Capital Markets lifted their price target on Amphenol Corp. from $63.00 to $65.00 and gave the stock a top pick rating in a research report on Friday, August 26th. Finally, Royal Bank Of Canada lifted their price target on Amphenol Corp. from $61.00 to $63.00 and gave the stock a top pick rating in a research report on Thursday, July 21st. Five analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Amphenol Corp. presently has an average rating of Buy and an average price target of $68.11.
Amphenol Corp. (NYSE:APH) opened at 64.13 on Tuesday. Amphenol Corp. has a 12 month low of $44.50 and a 12 month high of $65.18. The firm’s 50-day moving average is $61.36 and its 200-day moving average is $58.51. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 26.38 and a beta of 1.16.
Amphenol Corp. (NYSE:APH) last announced its earnings results on Wednesday, July 20th. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts anticipate that Amphenol Corp. will post $2.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 13th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. Amphenol Corp.’s dividend payout ratio (DPR) is 23.05%.
In other news, VP Martin Booker sold 21,200 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $59.11, for a total transaction of $1,253,132.00. Following the completion of the sale, the vice president now owns 6,400 shares of the company’s stock, valued at approximately $378,304. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Adam Norwitt sold 262,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $59.01, for a total transaction of $15,460,620.00. Following the sale, the insider now directly owns 137,992 shares of the company’s stock, valued at approximately $8,142,907.92. The disclosure for this sale can be found here. 2.92% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. acquired a new stake in Amphenol Corp. during the first quarter valued at approximately $103,000. BlueMountain Capital Management LLC acquired a new stake in Amphenol Corp. during the first quarter valued at approximately $139,000. Van ECK Associates Corp raised its stake in Amphenol Corp. by 30.0% in the second quarter. Van ECK Associates Corp now owns 2,738 shares of the company’s stock valued at $157,000 after buying an additional 632 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Amphenol Corp. by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 3,215 shares of the company’s stock valued at $181,000 after buying an additional 99 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Amphenol Corp. during the second quarter valued at approximately $181,000. 96.81% of the stock is owned by hedge funds and other institutional investors.
Amphenol Corp. 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: Interconnect Products and Assemblies, and Cable Products and Solutions.
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