Advanced Energy Industries, Inc. (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 research note issued to investors on Friday. The brokerage currently has a $93.00 price target on the electronics maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.98% from the stock’s current price.
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, “
A number of other equities analysts have also issued reports on AEIS. BidaskClub raised shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Stifel Nicolaus initiated coverage on shares of Advanced Energy Industries in a research report on Wednesday, August 23rd. They set a “hold” rating and a $74.00 price target for the company. Needham & Company LLC reissued a “buy” rating on shares of Advanced Energy Industries in a research report on Friday, October 13th. KeyCorp reissued a “hold” rating on shares of Advanced Energy Industries in a research report on Sunday, October 15th. Finally, ValuEngine lowered shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $81.60.
Advanced Energy Industries (AEIS) traded up $1.82 during mid-day trading on Friday, reaching $83.80. 43,746 shares of the company were exchanged, compared to its average volume of 502,600. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 20.22 and a beta of 1.36.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Advanced Energy Industries had a net margin of 33.76% and a return on equity of 35.56%. The company had revenue of $176.60 million during the quarter, compared to analyst estimates of $165.77 million. During the same period last year, the firm posted $0.77 EPS. Advanced Energy Industries’s revenue for the quarter was up 39.5% compared to the same quarter last year. analysts predict that Advanced Energy Industries will post 4.24 EPS for the current fiscal year.
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In other news, CEO Yuval Wasserman sold 10,669 shares of Advanced Energy Industries stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $90.00, for a total transaction of $960,210.00. Following the completion of the transaction, the chief executive officer now directly owns 130,259 shares of the company’s stock, valued at approximately $11,723,310. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas Liguori sold 16,000 shares of Advanced Energy Industries stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $73.64, for a total transaction of $1,178,240.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,413 shares of company stock valued at $4,975,307. Insiders own 1.13% of the company’s stock.
Large investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Advanced Energy Industries by 4.1% during the 2nd quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock valued at $65,937,000 after purchasing an additional 40,286 shares in the last quarter. Allianz Asset Management AG grew its stake in Advanced Energy Industries by 10.5% in the 4th quarter. Allianz Asset Management AG now owns 79,549 shares of the electronics maker’s stock valued at $4,356,000 after acquiring an additional 7,551 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Advanced Energy Industries in the 1st quarter valued at $130,000. First Trust Advisors LP grew its stake in Advanced Energy Industries by 1.5% in the 1st quarter. First Trust Advisors LP now owns 80,298 shares of the electronics maker’s stock valued at $5,505,000 after acquiring an additional 1,215 shares during the period. Finally, Cim LLC grew its stake in Advanced Energy Industries by 0.8% in the 1st quarter. Cim LLC now owns 9,342 shares of the electronics maker’s stock valued at $640,000 after acquiring an additional 72 shares during the period. 91.90% of the stock is owned by hedge funds and other institutional investors.
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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