Citigroup Forecasts Strong Price Appreciation for Amphenol (NYSE:APH) Stock

Amphenol (NYSE:APH) had its price objective boosted by investment analysts at Citigroup from $81.00 to $82.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Citigroup’s price objective would suggest a potential upside of 18.09% from the stock’s current price.

APH has been the subject of several other research reports. Bank of America raised their target price on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Evercore ISI raised their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird increased their target price on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial increased their target price on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen raised their price objective on shares of Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus price target of $69.79.

Amphenol Trading Down 0.6 %

Shares of NYSE APH opened at $69.44 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. Amphenol has a 12-month low of $47.76 and a 12-month high of $75.78. The stock’s 50 day simple moving average is $71.82 and its 200 day simple moving average is $67.74. The company has a market cap of $83.71 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Equities research analysts expect that Amphenol will post 1.84 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter Straub sold 132,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $74.12, for a total transaction of $9,783,840.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Amphenol

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trifecta Capital Advisors LLC raised its position in shares of Amphenol by 352.1% in the third quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 338 shares during the period. Core Alternative Capital lifted its position in Amphenol by 100.0% during the second quarter. Core Alternative Capital now owns 462 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 231 shares during the period. Brown Brothers Harriman & Co. raised its position in Amphenol by 50.0% during the third quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 166 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Amphenol by 89.3% in the 3rd quarter. Continuum Advisory LLC now owns 496 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 234 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Amphenol by 100.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 647 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Amphenol

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.