Zacks Investment Research upgraded shares of Amphenol Corporation (NYSE:APH) from a hold rating to a buy rating in a research report report published on Thursday. Zacks Investment Research currently has $92.00 price objective 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. 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. Furthermore, increasing cost of raw materials is also a matter of concern and is likely to be an additional drag on profitability. In addition, unfavorable movement in foreign currency exchange rates often adversely impact sales, thereby affecting its long-term growth to some extent.”
Several other brokerages also recently commented on APH. Royal Bank Of Canada reaffirmed a top pick rating and set a $85.00 price objective (up from $81.00) on shares of Amphenol Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus reaffirmed a hold rating and set a $72.00 price objective on shares of Amphenol Corporation in a research note on Monday, August 14th. BidaskClub downgraded shares of Amphenol Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, June 21st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Amphenol Corporation from a buy rating to a neutral rating and upped their price objective for the company from $75.00 to $78.00 in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $80.00.
Amphenol Corporation (APH) opened at 82.58 on Thursday. The company’s 50-day moving average price is $79.43 and its 200 day moving average price is $74.45. Amphenol Corporation has a 12 month low of $62.36 and a 12 month high of $82.60. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 27.80 and a beta of 0.76.
Amphenol Corporation (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Analysts forecast that Amphenol Corporation will post $3.09 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Monday, September 18th will be paid a $0.19 dividend. This is an increase from Amphenol Corporation’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, September 15th. Amphenol Corporation’s dividend payout ratio is presently 21.55%.
In related news, CFO Craig A. Lampo sold 15,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $80.98, for a total value of $1,214,700.00. Following the completion of the transaction, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $3,239,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David M. Silverman sold 16,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $80.04, for a total transaction of $1,280,640.00. Following the completion of the transaction, the vice president now directly owns 16,000 shares of the company’s stock, valued at $1,280,640. The disclosure for this sale can be found here. Over the last three months, insiders sold 433,200 shares of company stock valued at $33,886,886. 2.51% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Birch Hill Investment Advisors LLC bought a new position in Amphenol Corporation in the first quarter worth about $105,000. Dupont Capital Management Corp bought a new position in Amphenol Corporation in the second quarter worth about $109,000. People s United Financial Inc. raised its stake in 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 in the last quarter. YorkBridge Wealth Partners LLC raised its stake in 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 in the last quarter. Finally, Israel Discount Bank of New York bought a new position in Amphenol Corporation in the first quarter worth about $121,000. 96.87% of the stock is owned by institutional investors.
About Amphenol Corporation
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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