Advanced Energy Industries Inc. (AEIS) Lowered to Hold at Zacks Investment Research
Advanced Energy Industries Inc. (NASDAQ:AEIS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
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, “
Other equities analysts also recently issued research reports about the company. Dougherty & Co lifted their price objective on Advanced Energy Industries from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 14th. Finally, Citigroup Inc. cut Advanced Energy Industries to a “market perform” rating in a research note on Thursday, July 14th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.20.
Shares of Advanced Energy Industries (NASDAQ:AEIS) traded down 0.95% during midday trading on Tuesday, reaching $46.86. The company had a trading volume of 224,799 shares. The firm has a market cap of $1.86 billion, a P/E ratio of 17.96 and a beta of 0.89. Advanced Energy Industries has a 52-week low of $24.25 and a 52-week high of $48.28. The company’s 50-day moving average is $44.82 and its 200-day moving average is $38.85.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. The firm earned $118.80 million during the quarter, compared to the consensus estimate of $111.52 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Advanced Energy Industries will post $2.73 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in AEIS. Mason Street Advisors LLC bought a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $294,000. Aristotle Capital Boston LLC boosted its stake in shares of Advanced Energy Industries by 3.7% in the second quarter. Aristotle Capital Boston LLC now owns 147,842 shares of the company’s stock worth $5,612,000 after buying an additional 5,273 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Advanced Energy Industries by 3.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 321,835 shares of the company’s stock worth $12,217,000 after buying an additional 9,744 shares during the period. Stifel Financial Corp bought a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $393,000. Finally, Fiera Capital Corp bought a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $25,431,000. 96.15% of the stock is owned by institutional investors and hedge funds.
About Advanced Energy Industries
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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