Advanced Energy Industries, Inc. (NASDAQ:AEIS) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) from a hold rating to a buy rating in a report issued on Monday, July 10th. They currently have $75.00 target price 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 brokerages have also issued reports on AEIS. BidaskClub lowered shares of Advanced Energy Industries from a buy rating to a hold rating in a research report on Tuesday, June 20th. ValuEngine raised shares of Advanced Energy Industries from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. increased their price target on shares of Advanced Energy Industries from $66.00 to $74.00 and gave the stock a neutral rating in a research note on Monday, March 20th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $72.25.
Advanced Energy Industries (AEIS) traded down 0.88% during mid-day trading on Monday, hitting $70.72. 433,723 shares of the stock traded hands. The stock’s 50 day moving average is $70.42 and its 200-day moving average is $68.84. Advanced Energy Industries has a 12 month low of $41.01 and a 12 month high of $86.25. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 17.97 and a beta of 1.34.
Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Monday, July 31st. The electronics maker reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.15. Advanced Energy Industries had a net margin of 27.42% and a return on equity of 36.19%. The firm had revenue of $165.95 million for the quarter, compared to analyst estimates of $155.72 million. During the same quarter last year, the business earned $0.73 earnings per share. Advanced Energy Industries’s revenue was up 39.7% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Energy Industries will post $4.59 EPS for the current year.
In other news, EVP Thomas O. Mcgimpsey sold 29,772 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $77.04, for a total value of $2,293,634.88. Following the transaction, the executive vice president now owns 53,456 shares of the company’s stock, valued at approximately $4,118,250.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas M. Rohrs sold 4,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $64.87, for a total transaction of $259,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,796 shares of company stock worth $8,381,106. 1.13% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of AEIS. Breton Hill Capital Ltd. increased its stake in Advanced Energy Industries by 237.4% in the first quarter. Breton Hill Capital Ltd. now owns 15,453 shares of the electronics maker’s stock worth $1,059,000 after buying an additional 10,873 shares in the last quarter. Hillcrest Asset Management LLC increased its position in Advanced Energy Industries by 8.1% in the first quarter. Hillcrest Asset Management LLC now owns 150,962 shares of the electronics maker’s stock worth $10,350,000 after buying an additional 11,344 shares during the period. Navellier & Associates Inc bought a new position in Advanced Energy Industries during the first quarter worth approximately $731,000. Teachers Advisors LLC boosted its position in Advanced Energy Industries by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 282,169 shares of the electronics maker’s stock worth $15,449,000 after buying an additional 1,725 shares in the last quarter. Finally, FMR LLC boosted its position in Advanced Energy Industries by 97.8% in the fourth quarter. FMR LLC now owns 17,700 shares of the electronics maker’s stock worth $969,000 after buying an additional 8,750 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.
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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