Amphenol (NYSE:APH) Shares Gap Up After Strong Earnings

Amphenol Co. (NYSE:APH) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $96.68, but opened at $99.09. Amphenol shares last traded at $101.59, with a volume of 2,033,688 shares.

The electronics maker reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. Amphenol had a return on equity of 29.08% and a net margin of 14.54%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company posted $0.99 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price target on Amphenol from $108.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. ValuEngine lowered Amphenol from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Co reiterated a “buy” rating on shares of Amphenol in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. assumed coverage on Amphenol in a research note on Tuesday. They issued a “neutral” rating and a $104.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $103.91.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APH. Private Trust Co. NA boosted its holdings in shares of Amphenol by 8.6% during the 2nd quarter. Private Trust Co. NA now owns 7,294 shares of the electronics maker’s stock valued at $699,000 after acquiring an additional 576 shares in the last quarter. Dorsey Wright & Associates boosted its holdings in shares of Amphenol by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 61,208 shares of the electronics maker’s stock valued at $5,872,000 after acquiring an additional 228 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Amphenol by 24.3% during the 2nd quarter. Fulton Bank N.A. now owns 8,167 shares of the electronics maker’s stock valued at $783,000 after acquiring an additional 1,599 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Amphenol by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 139,314 shares of the electronics maker’s stock valued at $13,366,000 after acquiring an additional 511 shares in the last quarter. Finally, Chicago Capital LLC boosted its holdings in shares of Amphenol by 53.6% during the 2nd quarter. Chicago Capital LLC now owns 8,600 shares of the electronics maker’s stock valued at $825,000 after acquiring an additional 3,000 shares in the last quarter. 93.67% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 2.06. The company has a market cap of $29.87 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.93 and a beta of 1.03. The company has a fifty day moving average of $94.83 and a two-hundred day moving average of $94.46.

Amphenol Company Profile (NYSE:APH)

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, busbars, and distribution systems; and other connectors.

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