Amphenol Corporation (APH) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Amphenol Corporation (NYSE:APH) from a hold rating to a buy rating in a report published on Friday. 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.”
Several other equities analysts also recently weighed in on APH. Royal Bank Of Canada restated a buy rating on shares of Amphenol Corporation in a report on Thursday, June 1st. BidaskClub downgraded shares of Amphenol Corporation from a strong-buy rating to a buy rating in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) downgraded shares of Amphenol Corporation from a buy rating to a neutral rating and raised their target price for the company from $75.00 to $78.00 in a report on Wednesday, July 5th. Finally, Stifel Nicolaus restated a hold rating and set a $72.00 target price on shares of Amphenol Corporation in a report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Amphenol Corporation currently has a consensus rating of Buy and a consensus price target of $80.13.
Amphenol Corporation (NYSE APH) traded down 0.24% during trading on Friday, reaching $82.94. 1,618,230 shares of the company were exchanged. The stock has a 50 day moving average price of $79.80 and a 200 day moving average price of $74.70. Amphenol Corporation has a 12 month low of $62.64 and a 12 month high of $83.81. The firm has a market capitalization of $25.33 billion, a PE ratio of 27.93 and a beta of 0.76.
Amphenol Corporation (NYSE:APH) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, beating 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that Amphenol Corporation will post $3.09 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 15th. This is an increase from Amphenol Corporation’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.92%. Amphenol Corporation’s payout ratio is 25.59%.
In other news, VP David M. Silverman sold 16,000 shares of Amphenol Corporation stock in a transaction dated 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 completion of the sale, the vice president now directly owns 16,000 shares in the company, valued at $1,280,640. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Craig A. Lampo sold 15,000 shares of Amphenol Corporation 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 of the company’s stock, valued at $3,188,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 433,200 shares of company stock valued at $33,886,886. Insiders own 2.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Birch Hill Investment Advisors LLC acquired a new stake in shares of Amphenol Corporation in the first quarter worth approximately $105,000. Dupont Capital Management Corp acquired a new stake in shares of Amphenol Corporation in the second quarter worth approximately $109,000. People s United Financial Inc. boosted 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 acquiring an additional 95 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in shares of Amphenol Corporation in the first quarter worth approximately $121,000. Finally, Parallel Advisors LLC boosted its position in shares of Amphenol Corporation by 28.9% in the second quarter. Parallel Advisors LLC now owns 1,746 shares of the electronics maker’s stock worth $134,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.
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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