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

Amphenol (NYSE:APH) had its target price increased by analysts at Citigroup from $81.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Citigroup’s price objective would indicate a potential upside of 18.09% from the stock’s current price.

APH has been the topic of a number of other research reports. Truist Financial increased their price objective on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted their price target on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their price objective on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Robert W. Baird raised their target price on shares of Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price target 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 research 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 company’s stock. According to MarketBeat.com, Amphenol currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.79.

Amphenol Trading Down 0.6 %

APH opened at $69.44 on Friday. The firm has a market capitalization of $83.71 billion, a PE ratio of 39.91, a P/E/G ratio of 2.01 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. Amphenol has a fifty-two week low of $47.76 and a fifty-two week high of $75.78. The company’s 50-day moving average is $71.82 and its 200 day moving average is $67.74.

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

Insider Activity

In other news, CFO Craig A. Lampo sold 150,000 shares of Amphenol stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the transaction, the chief financial officer now owns 218,116 shares in the company, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $133,136,890.88. This represents a 31.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock valued at $128,858,080 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amphenol

A number of hedge funds and other institutional investors have recently modified their holdings of APH. Trifecta Capital Advisors LLC boosted its holdings 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 purchasing an additional 338 shares during the last quarter. Core Alternative Capital increased its stake in Amphenol by 100.0% in the 2nd quarter. Core Alternative Capital now owns 462 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 231 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings 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 worth $32,000 after acquiring an additional 166 shares in the last quarter. Continuum Advisory LLC boosted 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 acquiring an additional 234 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in Amphenol by 100.3% in the second quarter. Sunbelt Securities Inc. now owns 647 shares of the electronics maker’s stock worth $44,000 after purchasing an additional 324 shares during the last quarter. Institutional investors 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.