Zacks Investment Research upgraded shares of Amphenol Corporation (NYSE:APH) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $89.00 target price on the electronics maker’s stock.
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.”
APH has been the topic of several other reports. Morgan Stanley boosted 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 report on Friday, April 28th. Deutsche Bank AG boosted their price target 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. Royal Bank Of Canada boosted their price target 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. BidaskClub lowered shares of Amphenol Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, June 21st. Finally, Stifel Nicolaus restated a hold rating and set a $72.00 price objective on shares of Amphenol Corporation in a research note on Monday. Three equities research 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. The stock presently has a consensus rating of Buy and an average price target of $79.00.
Amphenol Corporation (APH) traded down 0.25% during trading on Thursday, reaching $78.75. 448,994 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $76.01 and a 200-day moving average price of $72.74. Amphenol Corporation has a 12 month low of $60.28 and a 12 month high of $79.70. The firm has a market cap of $24.05 billion, a PE ratio of 26.52 and a beta of 0.77.
Amphenol Corporation (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 EPS 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 firm posted $0.65 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts forecast that Amphenol Corporation will post $3.09 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, September 15th. This is a positive change from Amphenol Corporation’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. Amphenol Corporation’s payout ratio is currently 21.55%.
In other news, VP Martin Booker sold 46,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.42, for a total transaction of $3,469,320.00. Following the transaction, the vice president now directly owns 20,400 shares in the company, valued at approximately $1,538,568. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William J. Doherty sold 61,800 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $78.12, for a total transaction of $4,827,816.00. Following the transaction, the vice president now owns 8,800 shares in the company, valued at $687,456. The disclosure for this sale can be found here. Insiders have sold a total of 1,050,200 shares of company stock worth $79,467,056 over the last 90 days. 2.51% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Birch Hill Investment Advisors LLC bought a new position in shares of Amphenol Corporation during the first quarter worth approximately $105,000. Dupont Capital Management Corp bought a new position in shares of Amphenol Corporation during the second quarter worth approximately $109,000. People s United Financial Inc. raised 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 raised 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 bought a new position in shares of Amphenol Corporation during the first quarter worth approximately $121,000. Institutional investors and hedge funds 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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