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

Amphenol (NYSE:APH) had its price objective upped by investment analysts at Citigroup from $81.00 to $82.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. Citigroup’s price target points to a potential upside of 18.02% from the company’s previous close.

Several other research firms have also recently issued reports on APH. Truist Financial boosted their target price on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Bank of America lifted their price target 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 increased their price objective 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. Finally, Robert W. Baird upped their target price on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.79.

Amphenol Stock Performance

Shares of NYSE:APH traded down $0.38 during trading on Friday, hitting $69.48. 5,144,584 shares of the company were exchanged, compared to its average volume of 5,644,729. The company has a market cap of $83.77 billion, a PE ratio of 39.93, a P/E/G ratio of 2.01 and a beta of 1.24. Amphenol has a 52-week low of $47.76 and a 52-week high of $75.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. The stock has a 50 day moving average of $71.99 and a 200 day moving average of $67.72.

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, beating the consensus estimate of $0.45 by $0.05. The firm had revenue of $4.04 billion for 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 was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. As a group, equities research analysts predict that Amphenol will post 1.84 EPS for the current year.

Insider Activity at Amphenol

In other news, insider Peter Straub sold 132,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig A. Lampo sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total value of $10,314,000.00. Following the transaction, the chief financial officer now directly owns 218,116 shares in the company, valued at approximately $14,997,656.16. This represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders 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

Several institutional investors and hedge funds have recently bought and sold shares of APH. Fortitude Family Office LLC grew its holdings in Amphenol by 13.9% during the 3rd quarter. Fortitude Family Office LLC now owns 1,296 shares of the electronics maker’s stock valued at $84,000 after purchasing an additional 158 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of 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 buying an additional 166 shares during the last quarter. Fragasso Financial Advisors Inc raised its holdings in shares of Amphenol by 4.7% in the fourth quarter. Fragasso Financial Advisors Inc now owns 3,824 shares of the electronics maker’s stock worth $266,000 after buying an additional 171 shares during the period. Prestige Wealth Management Group LLC lifted its stake in shares of Amphenol by 7.4% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,751 shares of the electronics maker’s stock worth $180,000 after acquiring an additional 189 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of Amphenol by 4.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,505 shares of the electronics maker’s stock worth $294,000 after purchasing an additional 199 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.