TE Connectivity (NYSE:TEL) PT Raised to $98.00

TE Connectivity (NYSE:TEL) had its target price hoisted by Oppenheimer from $92.00 to $98.00 in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. They currently have an outperform rating on the electronics maker’s stock.

A number of other brokerages also recently issued reports on TEL. Morgan Stanley boosted their price target on shares of TE Connectivity from $84.00 to $89.00 and gave the stock an equal weight rating in a research report on Wednesday, July 15th. Cfra dropped their price target on shares of TE Connectivity from $108.00 to $87.00 and set a buy rating on the stock in a research report on Wednesday, April 29th. Loop Capital initiated coverage on shares of TE Connectivity in a research report on Monday, April 20th. They issued a buy rating and a $80.00 price target on the stock. Jefferies Financial Group upgraded shares of TE Connectivity from a hold rating to a buy rating and set a $100.00 price target on the stock in a research report on Tuesday, July 21st. Finally, Robert W. Baird upgraded shares of TE Connectivity from a neutral rating to an outperform rating and boosted their price target for the stock from $76.00 to $97.00 in a research report on Monday, June 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $95.71.

TEL opened at $89.07 on Wednesday. TE Connectivity has a fifty-two week low of $48.62 and a fifty-two week high of $101.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 0.94. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of -287.32, a PEG ratio of 2.29 and a beta of 1.32. The company’s 50 day moving average price is $82.29 and its two-hundred day moving average price is $80.28.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 29th. The electronics maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.18. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. TE Connectivity had a negative net margin of 0.81% and a positive return on equity of 15.06%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 EPS. As a group, equities research analysts predict that TE Connectivity will post 3.74 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Gemmer Asset Management LLC bought a new stake in TE Connectivity during the 2nd quarter valued at $26,000. WASHINGTON TRUST Co bought a new stake in TE Connectivity during the 1st quarter valued at $35,000. Eudaimonia Partners LLC increased its stake in TE Connectivity by 72.9% during the 1st quarter. Eudaimonia Partners LLC now owns 631 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 266 shares in the last quarter. NEXT Financial Group Inc increased its stake in TE Connectivity by 34.1% during the 1st quarter. NEXT Financial Group Inc now owns 645 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 164 shares in the last quarter. Finally, Balentine LLC bought a new stake in TE Connectivity during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Analyst Recommendations for TE Connectivity (NYSE:TEL)

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