Advanced Energy Industries, Inc. (AEIS) Receives Consensus Recommendation of “Buy” from Brokerages
Advanced Energy Industries, Inc. (NASDAQ:AEIS) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $72.25.
Several equities research analysts have recently issued reports on the stock. BidaskClub cut shares of Advanced Energy Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Advanced Energy Industries from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, July 10th.
Shares of Advanced Energy Industries (NASDAQ:AEIS) opened at 73.31 on Friday. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 20.57 and a beta of 1.32. Advanced Energy Industries has a 12-month low of $39.17 and a 12-month high of $86.25. The company’s 50-day moving average is $71.67 and its 200-day moving average is $68.32.
Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings results on Monday, May 1st. The electronics maker reported $1.04 earnings per share for the quarter, beating 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 business had revenue of $149.35 million for the quarter, compared to the consensus estimate of $147.86 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. Equities research analysts predict that Advanced Energy Industries will post $4.03 earnings per share for the current year.
In other Advanced Energy Industries news, EVP Thomas O. Mcgimpsey sold 29,772 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $77.04, for a total value of $2,293,634.88. Following the completion of the transaction, the executive vice president now directly owns 53,456 shares in the company, valued at $4,118,250.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuval Wasserman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $77.25, for a total transaction of $1,545,000.00. The disclosure for this sale can be found here. Insiders have sold 109,796 shares of company stock valued at $8,381,106 over the last three months. Insiders own 1.13% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in Advanced Energy Industries during the first quarter valued at about $130,000. Meeder Asset Management Inc. increased its position in 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 during the period. Advisory Services Network LLC bought a new position in Advanced Energy Industries during the first quarter valued at about $135,000. Creative Planning increased its position in 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 during the period. Finally, Teacher Retirement System of Texas bought a new position in Advanced Energy Industries during the first quarter valued at about $215,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.
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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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