Robert W. Baird Forecasts Strong Price Appreciation for TE Connectivity (NYSE:TEL) Stock

TE Connectivity (NYSE:TEL) had its price target raised by analysts at Robert W. Baird from $162.00 to $168.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Robert W. Baird’s target price points to a potential upside of 8.64% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Finally, HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Trading Down 1.5 %

NYSE TEL opened at $154.64 on Thursday. The company has a market cap of $46.16 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. TE Connectivity has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $147.49 and its 200 day moving average is $148.86.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. As a group, sell-side analysts expect that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On TE Connectivity

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. raised its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Hilltop National Bank acquired a new stake in TE Connectivity in the 4th quarter valued at $55,000. Finally, Webster Bank N. A. bought a new stake in TE Connectivity during the 4th quarter valued at $61,000. Institutional investors own 91.43% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.