Zacks Investment Research upgraded shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) from a hold rating to a buy rating in a research report report published on Friday, November 3rd. They currently have $93.00 price target on the electronics maker’s stock.
According to Zacks, “Advanced Energy is a global leader in the development and support of technologies critical to high-technology, high-growth manufacturing processes used in the production of semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Leveraging a diverse product portfolio and technology leadership, Advanced Energy creates solutions that maximize process impact, improve productivity and lower the cost of ownership for its customers. This portfolio includes a comprehensive line of technology solutions in power, flow, thermal management, and plasma and ion beam sources for original equipment manufacturers and end-users around the world. Advanced Energy operates in regional centers in North America, Asia and Europe and offers global sales and support through direct offices, representatives and distributors, “
A number of other analysts have also weighed in on the stock. Needham & Company LLC upped their target price on shares of Advanced Energy Industries from $93.00 to $97.00 and gave the stock a buy rating in a report on Tuesday, October 31st. ValuEngine lowered shares of Advanced Energy Industries from a buy rating to a hold rating in a report on Friday, October 27th. KeyCorp reaffirmed a hold rating on shares of Advanced Energy Industries in a research note on Sunday, October 15th. Stifel Nicolaus began coverage on shares of Advanced Energy Industries in a research note on Wednesday, August 23rd. They issued a hold rating and a $74.00 price objective for the company. Finally, BidaskClub cut shares of Advanced Energy Industries from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $81.60.
Advanced Energy Industries (NASDAQ AEIS) opened at $82.47 on Friday. Advanced Energy Industries has a twelve month low of $51.29 and a twelve month high of $95.00. The firm has a market cap of $3,314.96, a PE ratio of 20.29, a P/E/G ratio of 1.35 and a beta of 1.36.
Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. The firm had revenue of $176.60 million for the quarter, compared to analysts’ expectations of $165.77 million. Advanced Energy Industries had a net margin of 33.76% and a return on equity of 35.56%. The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. analysts forecast that Advanced Energy Industries will post 4.24 EPS for the current fiscal year.
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In related news, CEO Yuval Wasserman sold 23,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $85.00, for a total value of $1,955,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas Liguori sold 16,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $73.64, for a total transaction of $1,178,240.00. The disclosure for this sale can be found here. Insiders have sold 70,603 shares of company stock worth $5,750,808 in the last ninety days. Insiders own 1.13% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Advanced Energy Industries by 0.7% during the second quarter. D.A. Davidson & CO. now owns 2,207 shares of the electronics maker’s stock valued at $142,000 after purchasing an additional 16 shares during the period. US Bancorp DE lifted its stake in Advanced Energy Industries by 0.4% in the second quarter. US Bancorp DE now owns 5,136 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 18 shares during the period. Alps Advisors Inc. lifted its stake in Advanced Energy Industries by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,205 shares of the electronics maker’s stock worth $466,000 after acquiring an additional 19 shares during the period. Teacher Retirement System of Texas lifted its stake in Advanced Energy Industries by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,174 shares of the electronics maker’s stock worth $205,000 after acquiring an additional 34 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in Advanced Energy Industries by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,487 shares of the electronics maker’s stock worth $225,000 after acquiring an additional 75 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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