Zacks Investment Research downgraded shares of Amphenol Corporation (NYSE:APH) from a buy rating to a hold rating in a research note published on Wednesday, August 30th.
According to Zacks, “Amphenol’s top-line growth is benefiting from improved end-market demands in automotive, mobile networks and military markets. The company 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. 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. Amphenol outperformed the industry year to date. However, increasing cost of raw materials is a matter of concern and is likely to be a drag on its profitability. Bulk of the company’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. In addition, unfavorable foreign currency movements often impact sales, affecting its long-term growth to some extent.”
A number of other analysts have also issued reports on APH. Royal Bank Of Canada reissued a buy rating on shares of Amphenol Corporation in a research report on Thursday, June 1st. BidaskClub lowered Amphenol Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) lowered Amphenol Corporation from a buy rating to a neutral rating and upped their price objective for the stock from $75.00 to $78.00 in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $72.00 price objective on shares of Amphenol Corporation in a research report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $80.00.
Shares of Amphenol Corporation (NYSE APH) traded up 0.68% on Wednesday, reaching $82.58. The company had a trading volume of 1,132,260 shares. Amphenol Corporation has a 1-year low of $62.64 and a 1-year high of $82.60. The company’s 50 day moving average price is $79.43 and its 200-day moving average price is $74.45. The stock has a market capitalization of $25.22 billion, a P/E ratio of 27.80 and a beta of 0.76.
Amphenol Corporation (NYSE:APH) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. Equities analysts predict that Amphenol Corporation will post $3.09 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This story was published by BBNS and is the sole property of of BBNS. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://baseballnewssource.com/markets/amphenol-corporation-aph-rating-lowered-to-hold-at-zacks-investment-research-2/1566405.html.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Monday, September 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from Amphenol Corporation’s previous quarterly dividend of $0.16. Amphenol Corporation’s payout ratio is presently 21.55%.
In related news, CFO Craig A. Lampo sold 15,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $80.98, for a total transaction of $1,214,700.00. Following the completion of the transaction, the chief financial officer now owns 40,000 shares in the company, valued at $3,239,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Luc Walter sold 110,400 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $77.70, for a total transaction of $8,578,080.00. Following the transaction, the senior vice president now owns 130,400 shares of the company’s stock, valued at approximately $10,132,080. The disclosure for this sale can be found here. In 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.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APH. BlackRock Inc. boosted 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 valued at $1,356,586,000 after acquiring an additional 18,339,185 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Amphenol Corporation by 1,662.5% in the second quarter. Janus Henderson Group PLC now owns 10,597,526 shares of the electronics maker’s stock valued at $782,311,000 after acquiring an additional 9,996,239 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Amphenol Corporation by 53.5% in the second quarter. UBS Asset Management Americas Inc. now owns 2,663,455 shares of the electronics maker’s stock valued at $196,616,000 after acquiring an additional 928,733 shares in the last quarter. Vanguard Group Inc. boosted its stake in Amphenol Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 29,794,362 shares of the electronics maker’s stock valued at $2,120,464,000 after acquiring an additional 914,857 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in Amphenol Corporation by 10.8% in the first quarter. Janus Capital Management LLC now owns 9,234,030 shares of the electronics maker’s stock valued at $657,176,000 after acquiring an additional 900,961 shares in the last quarter. Institutional investors own 96.87% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amphenol Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol Corporation and related companies with our FREE daily email newsletter.