Bank of America Forecasts Strong Price Appreciation for Amphenol (NYSE:APH) Stock

Amphenol (NYSE:APH) had its target price raised by analysts at Bank of America from $75.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s target price suggests a potential upside of 10.25% from the company’s current price.

Several other equities research analysts also recently commented on APH. TD Cowen boosted their price objective on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on Amphenol from $85.00 to $89.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Amphenol from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI boosted their price objective on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Amphenol Trading Down 1.9 %

Shares of APH stock opened at $77.10 on Thursday. The company has a market cap of $92.95 billion, a P/E ratio of 40.26, a PEG ratio of 2.12 and a beta of 1.24. The stock has a 50 day simple moving average of $71.98 and a two-hundred day simple moving average of $67.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.33 and a current ratio of 2.37. Amphenol has a fifty-two week low of $49.38 and a fifty-two week high of $79.39.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4,051,810 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts forecast that Amphenol will post 2.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $133,136,890.88. This represents a 31.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David M. Silverman sold 180,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total value of $12,391,200.00. Following the transaction, the vice president now directly owns 14,000 shares in the company, valued at $963,760. This represents a 92.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,842,672 shares of company stock valued at $128,858,080. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APH. Trifecta Capital Advisors LLC lifted its position in shares of Amphenol by 352.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after buying an additional 338 shares during the last quarter. Core Alternative Capital lifted its position in shares of Amphenol by 100.0% during the 2nd quarter. Core Alternative Capital now owns 462 shares of the electronics maker’s stock valued at $31,000 after buying an additional 231 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Amphenol by 50.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock valued at $32,000 after buying an additional 166 shares during the last quarter. Continuum Advisory LLC lifted its position in shares of Amphenol by 89.3% during the 3rd quarter. Continuum Advisory LLC now owns 496 shares of the electronics maker’s stock valued at $32,000 after buying an additional 234 shares during the last quarter. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Amphenol during the 4th quarter valued at $32,000. Hedge funds and other 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.