Bank of America Increases Amphenol (NYSE:APH) Price Target to $120.00

Amphenol (NYSE:APH) had its target price increased by Bank of America from $110.00 to $120.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Bank of America‘s price target points to a potential upside of 9.78% from the company’s previous close.

A number of other analysts also recently commented on APH. Truist Financial boosted their price objective on Amphenol from $102.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. US Capital Advisors set a $85.00 price objective on Amphenol in a research note on Thursday, April 24th. Fox Advisors raised Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Thursday, April 24th. Industrial Alliance Securities set a $115.00 price objective on Amphenol in a research note on Friday, July 11th. Finally, Evercore ISI boosted their price objective on Amphenol from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amphenol currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

Amphenol Stock Up 1.3%

Shares of Amphenol stock opened at $109.31 on Tuesday. The business’s fifty day moving average price is $98.27 and its two-hundred day moving average price is $80.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. The company has a market capitalization of $133.46 billion, a P/E ratio of 43.55, a PEG ratio of 1.76 and a beta of 1.13. Amphenol has a 1-year low of $56.45 and a 1-year high of $109.89.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.15. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, research analysts forecast that Amphenol will post 2.36 EPS for the current year.

Insider Buying and Selling

In other news, insider William J. Doherty sold 160,000 shares of Amphenol stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total value of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. This represents a 20.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 586,000 shares of company stock valued at $52,935,980. Insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APH. Hughes Financial Services LLC acquired a new stake in Amphenol during the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in Amphenol during the second quarter valued at $25,000. Avalon Trust Co boosted its position in Amphenol by 133.3% during the first quarter. Avalon Trust Co now owns 406 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 232 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Amphenol during the first quarter valued at $28,000. Finally, Saudi Central Bank acquired a new stake in Amphenol during the first quarter valued at $31,000. 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.