Amphenol Corporation (APH) Lowered to Hold at Zacks Investment Research
Amphenol Corporation (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Amphenol reported all-time high second-quarter 2017 results with healthy year-over-year increases in both earnings and revenues. Amphenol is benefiting from improved end-market demand, new product rollouts, and market share gains. 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. Management also raised its earlier guidance for 2017. However, 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 profitability. In addition, unfavorable movement in foreign currency exchange rates often adversely impact sales, thereby affecting its long-term growth to some extent.”
A number of other research analysts have also weighed in on the stock. Morgan Stanley boosted their target price on shares of Amphenol Corporation from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, April 28th. Royal Bank Of Canada upped their target price on shares of Amphenol Corporation from $77.00 to $80.00 and gave the company a “top pick” rating in a research note on Tuesday, June 27th. BidaskClub raised shares of Amphenol Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “hold” rating and issued a $72.00 target price on shares of Amphenol Corporation in a research note on Monday. Finally, Deutsche Bank AG upped their target price on shares of Amphenol Corporation from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Four investment analysts have rated the stock with a hold rating, three 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 a consensus price target of $78.38.
Amphenol Corporation (NYSE APH) opened at 78.91 on Wednesday. Amphenol Corporation has a 52 week low of $59.58 and a 52 week high of $79.38. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 26.57 and a beta of 0.77. The firm’s 50 day moving average price is $75.75 and its 200-day moving average price is $72.65.
Amphenol Corporation (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, topping the 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 firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company posted $0.65 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that Amphenol Corporation will post $3.09 EPS for the current year.
In other Amphenol Corporation news, CEO Richard Adam Norwitt sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 293,992 shares of the company’s stock, valued at approximately $22,916,676.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William J. Doherty sold 61,800 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $78.12, for a total transaction of $4,827,816.00. Following the completion of the transaction, the vice president now directly owns 8,800 shares in the company, valued at $687,456. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,050,200 shares of company stock worth $79,467,056. 2.51% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in APH. Birch Hill Investment Advisors LLC acquired a new stake in Amphenol Corporation during the first quarter valued at approximately $105,000. Dupont Capital Management Corp purchased a new position in shares of Amphenol Corporation during the second quarter worth about $109,000. People s United Financial Inc. increased its position in shares of Amphenol Corporation by 6.8% in the second quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock worth $110,000 after buying an additional 95 shares during the period. YorkBridge Wealth Partners LLC increased its position in shares of Amphenol Corporation by 300.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,600 shares of the electronics maker’s stock worth $114,000 after buying an additional 1,200 shares during the period. Finally, Israel Discount Bank of New York purchased a new position in shares of Amphenol Corporation during the first quarter worth about $121,000. 95.99% of the stock is currently owned by hedge funds and other 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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