Amphenol (NYSE:APH) Stock Rating Lowered by Bank of America

Amphenol (NYSE:APH) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $71.00 price objective on the electronics maker’s stock, down from their prior price objective of $80.00. Bank of America‘s target price points to a potential upside of 14.79% from the stock’s current price.

Other analysts have also issued reports about the stock. Seaport Res Ptn raised shares of Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Robert W. Baird cut their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. TD Cowen lifted their price objective on Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a research report on Thursday, June 6th. Citigroup upped their target price on Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $65.04.

Amphenol Stock Up 0.9 %

Shares of NYSE:APH opened at $61.85 on Wednesday. The firm has a 50 day simple moving average of $65.33 and a 200 day simple moving average of $62.28. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The company has a market cap of $74.29 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, research analysts expect that Amphenol will post 1.76 earnings per share for the current year.

Insider Activity

In related news, VP Lance E. D’amico sold 90,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lance E. D’amico sold 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at $3,373,382. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lance E. D’amico sold 90,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the sale, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,323,010. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amphenol

Hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC bought a new position in shares of Amphenol during the 4th quarter worth about $789,000. Merit Financial Group LLC lifted its stake in Amphenol by 17.8% during the fourth quarter. Merit Financial Group LLC now owns 3,294 shares of the electronics maker’s stock worth $327,000 after purchasing an additional 497 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amphenol by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,180,261 shares of the electronics maker’s stock valued at $315,259,000 after purchasing an additional 73,662 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Amphenol in the 4th quarter valued at approximately $42,000. Finally, National Pension Service raised its holdings in shares of Amphenol by 2.7% in the 4th quarter. National Pension Service now owns 1,306,165 shares of the electronics maker’s stock worth $129,480,000 after buying an additional 34,255 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Amphenol Company Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.