Advanced Energy Industries Coverage Initiated at Canaccord Genuity (AEIS)
Research analysts at Canaccord Genuity assumed coverage on shares of Advanced Energy Industries (NASDAQ:AEIS) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $20.00 price target on the stock. Canaccord Genuity’s price objective indicates a potential upside of 0.50% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Separately, analysts at ISI Group downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Finally, analysts at Zacks downgraded shares of Advanced Energy Industries from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 14th. They now have a $20.20 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.74.
Advanced Energy Industries (NASDAQ:AEIS) traded down 2.21% during mid-day trading on Wednesday, hitting $19.46. The stock had a trading volume of 106,545 shares. Advanced Energy Industries has a 52-week low of $16.52 and a 52-week high of $29.15. The stock’s 50-day moving average is $18.84 and its 200-day moving average is $23.11. The company has a market cap of $800.0 million and a P/E ratio of 20.49.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had revenue of $141.00 million for the quarter, compared to the consensus estimate of $142.60 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, analysts predict that Advanced Energy Industries will post $1.51 earnings per share for the current fiscal year.
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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