Advanced Energy Industries Inc. (AEIS) Receives New Coverage from Analysts at Citigroup Inc.
Investment analysts at Citigroup Inc. started coverage on shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “neutral” rating on the stock.
A number of other equities analysts have also recently weighed in on AEIS. Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Thursday, August 4th. Dougherty & Co boosted their price target on Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, July 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Advanced Energy Industries has an average rating of “Hold” and a consensus target price of $40.20.
Shares of Advanced Energy Industries (NASDAQ:AEIS) opened at 47.45 on Wednesday. Advanced Energy Industries has a 12 month low of $24.25 and a 12 month high of $48.59. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 18.19 and a beta of 0.89. The company has a 50-day moving average price of $45.70 and a 200-day moving average price of $39.43.
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Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. The company earned $118.80 million during the quarter, compared to analysts’ expectations of $111.52 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts expect that Advanced Energy Industries will post $2.73 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of AEIS. HBK Investments L P increased its stake in Advanced Energy Industries by 98.8% in the first quarter. HBK Investments L P now owns 50,500 shares of the company’s stock worth $1,757,000 after buying an additional 25,100 shares during the period. Bogle Investment Management L P DE purchased a new stake in Advanced Energy Industries during the first quarter worth about $3,766,000. Loomis Sayles & Co. L P increased its stake in Advanced Energy Industries by 26.8% in the first quarter. Loomis Sayles & Co. L P now owns 483,455 shares of the company’s stock worth $16,819,000 after buying an additional 102,322 shares during the period. Goldman Sachs Group Inc. increased its stake in Advanced Energy Industries by 63.8% in the first quarter. Goldman Sachs Group Inc. now owns 421,100 shares of the company’s stock worth $14,650,000 after buying an additional 164,058 shares during the period. Finally, State Street Corp increased its stake in Advanced Energy Industries by 10.6% in the first quarter. State Street Corp now owns 878,069 shares of the company’s stock worth $30,544,000 after buying an additional 84,398 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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