Amphenol Corporation (NYSE:APH) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Amphenol Corporation (NYSE:APH) from a hold rating to a buy rating in a report issued on Wednesday. The brokerage currently has $84.00 target price on the electronics maker’s stock.
According to Zacks, “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. A sustained drive for geographic and market diversification has enabled Amphenol to extend its presence into new customers and new applications. Amphenol remains encouraged by its expanding presence in the fast-growing commercial aerospace market and is well positioned to capitalize on the proliferation of electronics content on next-generation planes. 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.”
Other equities research analysts have also issued reports about 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. Deutsche Bank AG boosted their target price on shares of Amphenol Corporation from $70.00 to $80.00 and gave the stock a buy rating in a research report on Friday, April 28th. Cowen and Company started coverage on shares of Amphenol Corporation in a research report on Tuesday, March 21st. They set an outperform rating and a $85.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Amphenol Corporation from $77.00 to $80.00 and gave the stock a top pick rating in a research report on Tuesday, June 27th. Finally, BidaskClub lowered shares of Amphenol Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $78.38.
Shares of Amphenol Corporation (NYSE:APH) opened at 75.57 on Wednesday. The stock has a market capitalization of $23.10 billion, a P/E ratio of 26.81 and a beta of 0.77. Amphenol Corporation has a one year low of $58.38 and a one year high of $76.67. The company’s 50-day moving average is $74.86 and its 200-day moving average is $71.42.
Amphenol Corporation (NYSE:APH) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Amphenol Corporation had a net margin of 13.93% and a return on equity of 24.24%. Amphenol Corporation’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. On average, equities research analysts anticipate that Amphenol Corporation will post $2.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Monday, June 19th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.85%. Amphenol Corporation’s payout ratio is currently 22.70%.
In related news, CEO Richard Adam Norwitt sold 200,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $73.10, for a total value of $14,620,000.00. Following the sale, the chief executive officer now directly owns 293,992 shares in the company, valued at approximately $21,490,815.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Zachary W. Raley sold 432,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $74.12, for a total transaction of $32,019,840.00. Following the completion of the sale, the senior vice president now owns 144,000 shares in the company, valued at $10,673,280. The disclosure for this sale can be found here. Insiders sold a total of 893,000 shares of company stock worth $66,184,060 over the last quarter. Insiders own 2.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in APH. Duncker Streett & Co. Inc. raised its stake in Amphenol Corporation by 3.4% in the second quarter. Duncker Streett & Co. Inc. now owns 19,884 shares of the electronics maker’s stock valued at $1,468,000 after buying an additional 650 shares in the last quarter. Forsta AP Fonden raised its stake in Amphenol Corporation by 11.6% in the second quarter. Forsta AP Fonden now owns 89,463 shares of the electronics maker’s stock valued at $6,604,000 after buying an additional 9,300 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in Amphenol Corporation during the second quarter valued at approximately $842,000. Reilly Financial Advisors LLC raised its stake in Amphenol Corporation by 0.8% in the second quarter. Reilly Financial Advisors LLC now owns 147,249 shares of the electronics maker’s stock valued at $10,870,000 after buying an additional 1,143 shares in the last quarter. Finally, BTIM Corp. raised its stake in Amphenol Corporation by 0.8% in the second quarter. BTIM Corp. now owns 20,143 shares of the electronics maker’s stock valued at $1,487,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 96.60% 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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