Amphenol (APH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Amphenol (NYSE:APH) from a hold rating to a buy rating in a research note published on Wednesday morning. The brokerage currently has $102.00 price objective 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.”

APH has been the subject of several other reports. Cowen reaffirmed an outperform rating and set a $95.00 price objective (up from $85.00) on shares of Amphenol in a research report on Tuesday, October 10th. Bank of America raised Amphenol from a neutral rating to a buy rating in a report on Friday, September 29th. Deutsche Bank boosted their target price on Amphenol from $95.00 to $96.00 and gave the company a buy rating in a report on Thursday, October 26th. Morgan Stanley reissued an equal weight rating and issued a $85.00 target price on shares of Amphenol in a report on Wednesday, December 13th. Finally, Canaccord Genuity reissued a hold rating on shares of Amphenol in a report on Monday, October 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $89.60.

Amphenol (NYSE:APH) traded up $1.04 during trading hours on Wednesday, hitting $91.83. The stock had a trading volume of 845,965 shares, compared to its average volume of 967,353. The firm has a market cap of $27,721.74, a PE ratio of 29.25, a P/E/G ratio of 2.38 and a beta of 0.81. Amphenol has a twelve month low of $66.00 and a twelve month high of $91.94. The company has a current ratio of 3.04, a quick ratio of 2.27 and a debt-to-equity ratio of 0.87.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Monday, December 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, December 15th. Amphenol’s payout ratio is currently 24.20%.

In other Amphenol news, CFO Craig A. Lampo sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $89.51, for a total transaction of $895,100.00. Following the completion of the sale, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at approximately $3,132,850. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $45,637,190.00. Following the sale, the director now directly owns 260,000 shares of the company’s stock, valued at $23,589,800. The disclosure for this sale can be found here. Insiders sold a total of 849,000 shares of company stock valued at $75,518,690 over the last three months. Company insiders own 2.51% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. People s United Financial Inc. raised its stake in Amphenol by 6.8% during the 2nd quarter. People s United Financial Inc. now owns 1,495 shares of the electronics maker’s stock valued at $110,000 after acquiring an additional 95 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in Amphenol during the 2nd quarter valued at approximately $148,000. Cribstone Capital Management LLC raised its stake in Amphenol by 123.5% during the 3rd quarter. Cribstone Capital Management LLC now owns 1,900 shares of the electronics maker’s stock valued at $161,000 after acquiring an additional 1,050 shares during the last quarter. Zions Bancorporation purchased a new stake in Amphenol during the 3rd quarter valued at approximately $169,000. Finally, Taurus Asset Management LLC purchased a new stake in Amphenol during the 3rd quarter valued at approximately $201,000. 96.55% of the stock is owned by hedge funds and other institutional investors.

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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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