Amphenol Corporation (NYSE:APH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $89.00 target price on the electronics maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.20% from the company’s previous close.
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. Demand continues to be strong in automotive, mobile networks and military markets. 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 in the last three months on diligent execution of plans. 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 a matter of concern and is likely to be an additional drag on its profitability.”
Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Amphenol Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG upped their price target on shares of Amphenol Corporation from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating on shares of Amphenol Corporation in a research note on Thursday, June 1st. Morgan Stanley upped their price target on shares of Amphenol Corporation from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $72.00 price target on shares of Amphenol Corporation in a research note on Friday, July 14th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $79.00.
Shares of Amphenol Corporation (NYSE APH) traded down 0.16% on Thursday, reaching $79.19. 301,269 shares of the company traded hands. The stock has a market capitalization of $24.19 billion, a P/E ratio of 26.66 and a beta of 0.77. Amphenol Corporation has a one year low of $59.91 and a one year high of $79.70. The stock’s 50 day moving average price is $75.90 and its 200-day moving average price is $72.70.
Amphenol Corporation (NYSE:APH) last released its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.62 billion. Amphenol Corporation had a net margin of 14.37% and a return on equity of 24.98%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Equities analysts forecast that Amphenol Corporation will post $3.09 earnings per share for the current fiscal year.
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In other news, VP Martin Booker sold 46,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.42, for a total transaction of $3,469,320.00. Following the transaction, the vice president now owns 20,400 shares in the company, valued at $1,538,568. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William J. Doherty sold 61,800 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $78.12, for a total value of $4,827,816.00. Following the transaction, the vice president now owns 8,800 shares in the company, valued at approximately $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 valued at $79,467,056. Insiders own 2.51% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in Amphenol Corporation by 0.5% in the first quarter. FMR LLC now owns 39,355,583 shares of the electronics maker’s stock valued at $2,800,937,000 after buying an additional 208,471 shares during the period. Vanguard Group Inc. increased its stake in Amphenol Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 30,560,224 shares of the electronics maker’s stock worth $2,255,957,000 after buying an additional 765,862 shares during the period. Capital World Investors increased its stake in Amphenol Corporation by 0.9% in the second quarter. Capital World Investors now owns 26,040,751 shares of the electronics maker’s stock worth $1,922,328,000 after buying an additional 236,214 shares during the period. BlackRock Inc. increased its stake in Amphenol Corporation by 2,540.0% in the first quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock worth $1,356,586,000 after buying an additional 18,339,185 shares during the period. Finally, State Street Corp increased its stake in Amphenol Corporation by 1.7% in the first quarter. State Street Corp now owns 12,171,868 shares of the electronics maker’s stock worth $866,273,000 after buying an additional 203,486 shares during the period. Hedge funds and other institutional investors own 95.99% 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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