BidaskClub downgraded shares of Advanced Energy Industries (NASDAQ:AEIS) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.
Several other analysts have also weighed in on the company. Raymond James raised Advanced Energy Industries from a market perform rating to an outperform rating in a report on Thursday, July 5th. They noted that the move was a valuation call. Citigroup decreased their price objective on Advanced Energy Industries from $68.00 to $58.00 and set a neutral rating on the stock in a research note on Tuesday, September 25th. Stifel Nicolaus decreased their price objective on Advanced Energy Industries from $87.00 to $78.00 and set a hold rating on the stock in a research note on Wednesday, August 1st. Zacks Investment Research lowered Advanced Energy Industries from a hold rating to a sell rating in a research note on Monday, August 6th. Finally, DA Davidson decreased their price objective on Advanced Energy Industries to $90.00 and set a buy rating on the stock in a research note on Thursday, June 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $75.17.
Advanced Energy Industries stock opened at $46.58 on Tuesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.16 and a beta of 1.10. Advanced Energy Industries has a fifty-two week low of $45.75 and a fifty-two week high of $95.00.
Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, July 30th. The electronics maker reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.10). The firm had revenue of $196.00 million during the quarter, compared to analyst estimates of $199.60 million. Advanced Energy Industries had a net margin of 19.68% and a return on equity of 33.40%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. Equities research analysts forecast 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 stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $59.32, for a total transaction of $497,754.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP lifted its position in Advanced Energy Industries by 134.4% during the second 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. lifted its position in Advanced Energy Industries by 486.6% during the second 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 purchased a new position in Advanced Energy Industries during the second quarter worth about $18,874,000. BlackRock Inc. lifted its position in Advanced Energy Industries by 5.5% during the second 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 lifted its position in Advanced Energy Industries by 26.3% during the second 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 currently 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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