Advanced Energy Industries Inc. (NASDAQ:AEIS) Receives $40.50 Consensus Price Target from Brokerages
Advanced Energy Industries Inc. (NASDAQ:AEIS) has been given an average rating of “Hold” by the eight analysts that are covering the firm. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $40.50.
A number of equities research analysts recently commented on AEIS shares. Zacks Investment Research cut shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Citigroup Inc. cut shares of 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. Raymond James Financial Inc. cut shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 14th. Finally, Dougherty & Co increased their price objective on shares of Advanced Energy Industries from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 28th.
Shares of Advanced Energy Industries (NASDAQ:AEIS) opened at 47.80 on Thursday. The firm has a market capitalization of $1.90 billion, a PE ratio of 18.32 and a beta of 0.89. Advanced Energy Industries has a 12 month low of $24.25 and a 12 month high of $48.59. The firm’s 50 day moving average is $45.47 and its 200-day moving average is $39.18.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. The firm had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $111.52 million. Advanced Energy Industries had a net margin of 24.01% and a return on equity of 28.45%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. On average, analysts expect that Advanced Energy Industries will post $2.73 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AEIS. Norges Bank purchased a new position in Advanced Energy Industries during the fourth quarter worth about $10,259,000. Glenmede Trust Co. NA bought a new position in shares of Advanced Energy Industries during the first quarter valued at $258,000. Aperio Group LLC bought a new position in shares of Advanced Energy Industries during the first quarter valued at $264,000. BlackRock Inc. raised its position in shares of Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock valued at $109,000 after buying an additional 718 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Advanced Energy Industries by 12.4% in the first quarter. BlackRock Group LTD now owns 58,912 shares of the company’s stock valued at $2,049,000 after buying an additional 6,506 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.
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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