Amphenol (APH) Hits 52-Week High On Bullish Growth Trends
Zacks Investment Research | Nov 19, 2017 09:00PM ET
Shares of diversified electronics manufacturer Amphenol Corporation (NYSE:APH) scaled a new 52-week high of $89.72 during Friday’s trading session, before closing a tad lower at $89.52 for a healthy year-to-date return of 29.1%. Barring minor hiccups, Amphenol’s share price has steadily been on an uptrend since early July. This Zacks Rank #2 (Buy) stock has the potential for further price appreciation with long-term earnings growth expectation of 10.2%.
Growth Drivers
Amphenol’s top-line growth is benefiting from improved end-market demand, new product rollouts and market share gains. Demand continues to be strong in automotive, industrial and military markets. The diversification in end markets, with consistent focus on technology innovation and customer support through all phases of the economic cycle has enabled the company to post solid results over the past few quarters. A sustained drive for geographic and market diversification has further helped Amphenol to expand its customer base and develop new applications.
In addition, Amphenol remains encouraged by its expanding presence in the fast-growing commercial aerospace market and is well positioned to capitalize on the proliferation of electronics content in next-generation planes. These advanced electronic systems also require new higher technology interconnect solutions to enhance fuel efficiency and improve passenger experience, all of which create excellent opportunities for the company.
Amphenol Corporation Price and Consensus
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