Barclays Forecasts Strong Price Appreciation for TE Connectivity (NYSE:TEL) Stock

Key Points

• Barclays raised its TE Connectivity price target from $300 to $304 while maintaining an “overweight” rating, implying roughly 40% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $255.50; 11 analysts rate the stock Buy, five Hold, and one Sell.
• TE Connectivity recently exceeded quarterly expectations, reporting $3.14 in adjusted EPS and $5.31 billion in revenue, with year-over-year revenue growth of 11.9%.

TE Connectivity (NYSE:TEL - Get Free Report) had its price target lifted by investment analysts at Barclays from $300.00 to $304.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the electronics maker's stock. Barclays's target price would indicate a potential upside of 40.17% from the stock's previous close.

TEL has been the topic of several other research reports. Jefferies Financial Group lowered their target price on shares of TE Connectivity from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein began coverage on shares of TE Connectivity in a report on Wednesday, September 23rd. They set an "outperform" rating and a $243.00 price target for the company. Robert W. Baird raised their price objective on shares of TE Connectivity from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, October 6th. Wells Fargo & Company lifted their price objective on TE Connectivity from $209.00 to $220.00 and gave the company a "cautious" rating in a report on Friday, September 11th. Finally, The Goldman Sachs Group boosted their target price on TE Connectivity from $284.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.50.

TE Connectivity Stock Performance

Shares of NYSE:TEL traded up $3.85 during trading on Monday, reaching $216.88. The company had a trading volume of 1,242,460 shares, compared to its average volume of 2,344,092. The firm has a market capitalization of $62.79 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.18. The stock's fifty day moving average price is $211.03 and its 200 day moving average price is $213.13. TE Connectivity has a fifty-two week low of $190.27 and a fifty-two week high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. As a group, equities research analysts predict that TE Connectivity will post 13.32 EPS for the current year.

Institutional Trading of TE Connectivity

Institutional investors have recently added to or reduced their stakes in the stock. Capstone Wealth Management LLC purchased a new position in TE Connectivity in the 3rd quarter valued at approximately $250,000. Chicago Partners Investment Group LLC boosted its position in TE Connectivity by 198.2% during the third quarter. Chicago Partners Investment Group LLC now owns 11,931 shares of the electronics maker's stock worth $2,482,000 after purchasing an additional 7,930 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in TE Connectivity by 33.2% in the third quarter. Richardson Financial Services Inc. now owns 517 shares of the electronics maker's stock valued at $109,000 after purchasing an additional 129 shares during the last quarter. 3Chopt Investment Partners LLC grew its holdings in TE Connectivity by 62.2% in the third quarter. 3Chopt Investment Partners LLC now owns 2,636 shares of the electronics maker's stock valued at $556,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of TE Connectivity in the third quarter valued at $39,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.

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