Zacks Investment Research upgraded shares of Amphenol (NYSE:APH) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $102.00 price target on the electronics maker’s stock.
According to Zacks, “Amphenol is benefiting from improved end-market demand in automotive, mobile networks and military markets. 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 remain positives. The company has historically returned significant cash through a combination of share repurchases and dividend to reward shareholders with risk-adjusted returns. Management raised its earlier guidance and has bullish revenue and earnings expectations for 2017. Amphenol has also outperformed the industry in the last three months. However, Amphenol is susceptible to volatility in foreign exchanges, which undermines its growth potential to some extent.”
A number of other brokerages have also issued reports on APH. Cowen reiterated a buy rating and set a $105.00 price target on shares of Amphenol in a research note on Wednesday. Morgan Stanley reiterated an equal weight rating and set a $85.00 price target on shares of Amphenol in a research note on Wednesday, December 13th. SunTrust Banks boosted their price target on shares of Amphenol from $77.00 to $82.00 and gave the stock a neutral rating in a research note on Thursday, October 26th. Deutsche Bank boosted their price target on shares of Amphenol from $95.00 to $96.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, Stifel Nicolaus boosted their price target on shares of Amphenol from $78.00 to $85.00 and gave the stock a hold rating in a research note on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $89.60.
Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. Amphenol had a net margin of 14.73% and a return on equity of 25.63%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. equities analysts forecast that Amphenol will post 3.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Monday, December 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.83%. Amphenol’s payout ratio is 24.20%.
In related news, Director Diana G. Reardon sold 503,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $90.73, for a total transaction of $45,637,190.00. Following the sale, the director now directly owns 260,000 shares in the company, valued at $23,589,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Adam Norwitt sold 220,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $86.10, for a total transaction of $18,942,000.00. Following the sale, the chief executive officer now owns 216,492 shares in the company, valued at $18,639,961.20. The disclosure for this sale can be found here. Insiders have sold 849,000 shares of company stock worth $75,518,690 over the last 90 days. Insiders own 2.51% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. People s United Financial Inc. increased its stake in shares of Amphenol by 6.8% during 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. Comerica Securities Inc. increased its stake in Amphenol by 6.2% in the second quarter. Comerica Securities Inc. now owns 4,213 shares of the electronics maker’s stock valued at $312,000 after purchasing an additional 245 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Amphenol by 1.6% in the second quarter. Riverhead Capital Management LLC now owns 19,538 shares of the electronics maker’s stock valued at $1,442,000 after purchasing an additional 308 shares during the last quarter. Prudential PLC increased its stake in Amphenol by 1.5% in the second quarter. Prudential PLC now owns 27,900 shares of the electronics maker’s stock valued at $2,060,000 after purchasing an additional 400 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in Amphenol by 1.7% in the second quarter. Flinton Capital Management LLC now owns 26,418 shares of the electronics maker’s stock valued at $1,950,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 96.55% of the company’s stock.
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Amphenol 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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