Amphenol (NYSE:APH) Upgraded to Buy at Zacks Investment Research

Amphenol (NYSE:APH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, January 10th. The brokerage currently has a $102.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.52% from the company’s previous close.

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 analysts have also weighed in on APH. Stifel Nicolaus upped their price objective 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. Deutsche Bank reiterated a “buy” rating and issued a $95.00 target price (up from $80.00) on shares of Amphenol in a report on Thursday, October 5th. SunTrust Banks upped their price objective on shares of Amphenol from $77.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Wells Fargo & Co began coverage on shares of Amphenol in a report on Friday, November 10th. They set an “outperform” rating and a $98.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Amphenol from $74.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $89.60.

Shares of Amphenol (NYSE:APH) opened at $93.13 on Wednesday. Amphenol has a 1 year low of $66.00 and a 1 year high of $93.62. The firm has a market cap of $28,436.22, a price-to-earnings ratio of 29.66, a P/E/G ratio of 2.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.04 and a quick ratio of 2.27.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Amphenol had a net margin of 14.73% and a return on equity of 25.63%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 earnings per share. analysts forecast that Amphenol will post 3.21 EPS for the current fiscal year.

In other Amphenol news, CEO Richard Adam Norwitt sold 220,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $86.10, for a total value of $18,942,000.00. Following the transaction, the chief executive officer now owns 216,492 shares in the company, valued at approximately $18,639,961.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jean-Luc Gavelle sold 88,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $86.37, for a total value of $7,600,560.00. Following the completion of the transaction, the vice president now owns 48,000 shares in the company, valued at approximately $4,145,760. The disclosure for this sale can be found here. Insiders have sold a total of 849,000 shares of company stock worth $75,518,690 in the last quarter. Insiders own 2.51% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. People s United Financial Inc. increased its stake in shares of Amphenol by 6.8% in the 2nd quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock worth $110,000 after acquiring an additional 95 shares during the last quarter. Cribstone Capital Management LLC increased its stake in shares of Amphenol by 123.5% in the 3rd quarter. Cribstone Capital Management LLC now owns 1,900 shares of the electronics maker’s stock worth $161,000 after acquiring an additional 1,050 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Amphenol in the 2nd quarter worth $148,000. Zions Bancorporation acquired a new stake in shares of Amphenol in the 3rd quarter worth $169,000. Finally, Shelton Capital Management acquired a new stake in shares of Amphenol in the 3rd quarter worth $201,000. 96.63% of the stock is owned by institutional investors and hedge funds.

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About Amphenol

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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