Advanced Energy Industries, Inc. (NASDAQ:AEIS) Raised to Buy at Zacks Investment Research
Advanced Energy Industries, Inc. (NASDAQ:AEIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $75.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.99% from the company’s previous close.
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 reports about the company. BidaskClub cut Advanced Energy Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. ValuEngine raised Advanced Energy Industries from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. lifted their price objective on Advanced Energy Industries from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, March 20th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $72.25.
Shares of Advanced Energy Industries (AEIS) traded up 2.20% on Monday, hitting $68.44. The stock had a trading volume of 479,454 shares. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.20 and a beta of 1.32. Advanced Energy Industries has a one year low of $37.73 and a one year high of $86.25. The firm’s 50-day moving average is $75.47 and its 200-day moving average is $66.21.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, May 1st. The electronics maker reported $1.04 EPS for the quarter, beating the consensus estimate of $0.96 by $0.08. The business had revenue of $149.35 million during the quarter, compared to analysts’ expectations of $147.86 million. Advanced Energy Industries had a return on equity of 35.38% and a net margin of 26.92%. The company’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. On average, analysts expect that Advanced Energy Industries will post $4.00 EPS for the current fiscal year.
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In related news, CEO Yuval Wasserman sold 20,000 shares of Advanced Energy Industries stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $77.25, for a total transaction of $1,545,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Liguori sold 17,000 shares of Advanced Energy Industries stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $76.64, for a total value of $1,302,880.00. Following the transaction, the chief financial officer now directly owns 73,191 shares of the company’s stock, valued at $5,609,358.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,796 shares of company stock valued at $8,381,106. 1.13% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Fisher Asset Management boosted its position in shares of Advanced Energy Industries by 14.1% in the fourth quarter. Fisher Asset Management now owns 110,360 shares of the electronics maker’s stock valued at $3,115,000 after buying an additional 13,674 shares in the last quarter. Capstone Asset Management Company boosted its position in shares of Advanced Energy Industries by 5.2% in the fourth quarter. Capstone Asset Management Company now owns 12,367 shares of the electronics maker’s stock valued at $349,000 after buying an additional 610 shares in the last quarter. Commonwealth Equity Services boosted its position in Advanced Energy Industries by 1.2% in the fourth quarter. Commonwealth Equity Services now owns 25,698 shares of the electronics maker’s stock worth $725,000 after buying an additional 308 shares during the period. Shinko Asset Management Co. Ltd. boosted its position in Advanced Energy Industries by 14.1% in the fourth quarter. Shinko Asset Management Co. Ltd. now owns 110,360 shares of the electronics maker’s stock worth $3,115,000 after buying an additional 13,674 shares during the period. Finally, ClariVest Asset Management LLC boosted its position in Advanced Energy Industries by 4.6% in the fourth quarter. ClariVest Asset Management LLC now owns 99,594 shares of the electronics maker’s stock worth $2,812,000 after buying an additional 4,340 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.
About Advanced Energy Industries
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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