Zacks Investment Research upgraded shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) from a hold rating to a buy rating in a research note released on Monday, July 10th. Zacks Investment Research currently has $75.00 price objective 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, “
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Advanced Energy Industries from a strong-buy rating to a buy rating in a research note on Wednesday, June 14th. ValuEngine raised shares of Advanced Energy Industries from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. upped their price target on shares of Advanced Energy Industries from $66.00 to $74.00 and gave the company a neutral rating in a research report 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 assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $72.25.
Shares of Advanced Energy Industries (NASDAQ:AEIS) traded down 1.00% on Monday, reaching $75.01. 348,718 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.42 and a 200-day moving average price of $67.73. Advanced Energy Industries has a 12-month low of $39.17 and a 12-month high of $86.25. The company has a market cap of $2.98 billion, a PE ratio of 21.05 and a beta of 1.32.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, May 1st. The electronics maker reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.08. Advanced Energy Industries had a net margin of 26.92% and a return on equity of 35.38%. The company had revenue of $149.35 million for the quarter, compared to analysts’ expectations of $147.86 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Advanced Energy Industries’s revenue for the quarter was up 45.0% on a year-over-year basis. Equities research analysts anticipate that Advanced Energy Industries will post $4.03 EPS for the current fiscal year.
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In other news, CEO Yuval Wasserman sold 12,281 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $80.00, for a total transaction of $982,480.00. Following the transaction, the chief executive officer now owns 130,349 shares in the company, valued at $10,427,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward C. Grady sold 6,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $80.02, for a total transaction of $480,120.00. The disclosure for this sale can be found here. Insiders have sold 109,796 shares of company stock worth $8,381,106 in the last ninety days. Insiders own 1.13% of the company’s stock.
Several institutional investors have recently made changes to their positions in AEIS. DekaBank Deutsche Girozentrale bought a new position in shares of Advanced Energy Industries during the first quarter valued at $130,000. Meeder Asset Management Inc. raised its position in shares of Advanced Energy Industries by 797.2% in the first quarter. Meeder Asset Management Inc. now owns 1,947 shares of the electronics maker’s stock valued at $133,000 after buying an additional 1,730 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Advanced Energy Industries during the first quarter valued at $135,000. Creative Planning raised its position in shares of Advanced Energy Industries by 83.3% in the first quarter. Creative Planning now owns 2,421 shares of the electronics maker’s stock valued at $166,000 after buying an additional 1,100 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Advanced Energy Industries during the first quarter valued at $215,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.
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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