Erste Group Starts Amphenol (APH) at Buy

Erste Group analyst Hans Engel initiates coverage on Amphenol (NYSE: APH) with a Buy rating.

The analyst comments "The company has a very strong order backlog. Current demand significantly exceeds shipments. The book-to-bill ratio (the ratio of orders received to revenue) was most recently at a high of 1.23. The company has raised its revenue forecast and expects growth of approximately 51% year-over-year for the third quarter. Earnings per share are expected to rise by the same margin. Amphenol has a significantly higher return on equity compared to the sector average, as well as a higher operating margin. The stock is trading at a lower P/E ratio compared to its competitors. Given the positive outlook, we expect the stock’s upward trend to continue."

For an analyst ratings summary and ratings history on Amphenol click here. For more ratings news on Amphenol click here.

Shares of Amphenol closed at $79.32 yesterday.

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