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

Amphenol (NYSE:APH - Get Free Report) had its price target lifted by equities research analysts at Citigroup from $115.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the electronics maker's stock. Citigroup's price objective would suggest a potential upside of 21.57% from the company's previous close.

Several other brokerages have also recently issued reports on APH. Industrial Alliance Securities set a $115.00 price objective on Amphenol in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Amphenol from $91.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Truist Financial lifted their price target on Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research report on Thursday. Evercore ISI boosted their price objective on Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.85.

Amphenol Stock Up 2.1%

Shares of NYSE:APH traded up $2.11 during trading on Thursday, hitting $102.82. 4,981,877 shares of the company were exchanged, compared to its average volume of 8,467,154. The stock has a market capitalization of $124.37 billion, a P/E ratio of 49.94, a PEG ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 1.36. Amphenol has a 12-month low of $54.77 and a 12-month high of $108.85. The firm's 50 day moving average price is $94.27 and its 200-day moving average price is $77.95.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.15. Amphenol had a net margin of 15.58% and a return on equity of 27.68%. The business had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the previous year, the company posted $0.44 EPS. The company's quarterly revenue was up 56.5% on a year-over-year basis. On average, research analysts predict that Amphenol will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard Adam Norwitt sold 2,000,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $75.73, for a total value of $151,460,000.00. Following the sale, the chief executive officer owned 2,002,507 shares in the company, valued at $151,649,855.11. This represents a 49.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Luc Walter sold 390,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $75.91, for a total value of $29,604,900.00. Following the sale, the insider owned 447,790 shares in the company, valued at approximately $33,991,738.90. This represents a 46.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,764,500 shares of company stock worth $294,839,785. Company insiders own 1.67% of the company's stock.

Institutional Trading of Amphenol

Hedge funds have recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new position in shares of Amphenol during the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Amphenol in the second quarter valued at about $25,000. Avalon Trust Co increased its stake in shares of Amphenol by 133.3% during the first quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock worth $27,000 after acquiring an additional 232 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Amphenol during the first quarter worth approximately $28,000. Finally, Saudi Central Bank acquired a new stake in Amphenol during the 1st quarter valued at $31,000. Hedge funds and other 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.

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