Insider Selling: Advanced Energy Industries Director Sells 1,700 Shares of Stock (AEIS)
Advanced Energy Industries (NASDAQ:AEIS) Director Edward C. Grady unloaded 1,700 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $28.14, for a total value of $47,838.00. Following the completion of the sale, the director now directly owns 10,800 shares in the company, valued at approximately $303,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Advanced Energy Industries (NASDAQ:AEIS) traded up 3.00% during mid-day trading on Wednesday, hitting $27.48. 790,720 shares of the company’s stock traded hands. Advanced Energy Industries has a one year low of $15.95 and a one year high of $27.77. The stock has a 50-day moving average of $24.17 and a 200-day moving average of $21.29. The company has a market cap of $1.099 billion and a price-to-earnings ratio of 485.09.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.19. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $150.75 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. Analysts expect that Advanced Energy Industries will post $1.94 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Advanced Energy Industries from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $29.30 price target on the stock. Separately, analysts at Bank of America Corp. reiterated an “underperform” rating on shares of Advanced Energy Industries in a research note to investors on Wednesday. They now have a $19.00 price target on the stock, up previously from $17.00. Finally, analysts at Needham & Company raised their price target on shares of Advanced Energy Industries from $27.00 to $30.00 in a research note to investors on Thursday, January 16th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.29.
Advanced Energy Industries, Inc (NASDAQ:AEIS) designs, manufactures, sells, and supports power conversion products that transform power into various usable forms.
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