Citigroup set a $58.00 target price on Advanced Energy Industries (NASDAQ:AEIS) in a report released on Monday. The brokerage currently has a hold rating on the electronics maker’s stock.

Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Advanced Energy Industries from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Zacks Investment Research downgraded shares of Advanced Energy Industries from a hold rating to a sell rating in a research report on Monday, August 6th. Cowen reissued a buy rating and issued a $76.00 target price on shares of Advanced Energy Industries in a research report on Wednesday, August 1st. Stifel Nicolaus decreased their target price on shares of Advanced Energy Industries from $87.00 to $78.00 and set a hold rating for the company in a research report on Wednesday, August 1st. Finally, Raymond James raised shares of Advanced Energy Industries from a market perform rating to an outperform rating in a research report on Thursday, July 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Advanced Energy Industries currently has an average rating of Hold and an average target price of $75.17.

AEIS stock opened at $48.42 on Monday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. Advanced Energy Industries has a 12 month low of $45.75 and a 12 month high of $95.00.

Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, July 30th. The electronics maker reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.10). The business had revenue of $196.00 million during the quarter, compared to the consensus estimate of $199.60 million. Advanced Energy Industries had a return on equity of 33.40% and a net margin of 19.68%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that Advanced Energy Industries will post 4.47 EPS for the current fiscal year.

In related news, CFO Thomas O. Mcgimpsey sold 8,391 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $59.32, for a total transaction of $497,754.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AEIS. Royce & Associates LP boosted its holdings in shares of Advanced Energy Industries by 134.4% during the 2nd quarter. Royce & Associates LP now owns 651,212 shares of the electronics maker’s stock worth $37,829,000 after buying an additional 373,409 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Advanced Energy Industries by 486.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 406,315 shares of the electronics maker’s stock worth $23,603,000 after buying an additional 337,050 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Advanced Energy Industries during the 2nd quarter worth $18,874,000. BlackRock Inc. boosted its holdings in shares of Advanced Energy Industries by 5.5% during the 2nd quarter. BlackRock Inc. now owns 5,639,384 shares of the electronics maker’s stock worth $327,592,000 after buying an additional 293,718 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Advanced Energy Industries by 26.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,392,622 shares of the electronics maker’s stock worth $80,897,000 after buying an additional 290,200 shares during the period. 93.98% of the stock is owned by institutional investors and hedge funds.

About Advanced Energy Industries

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

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Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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