Advanced Energy Industries’ (NASDAQ:AEIS) Hold Rating Reaffirmed at KeyCorp

KeyCorp reissued their hold rating on shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) in a report published on Sunday, October 15th.

AEIS has been the subject of several other reports. Zacks Investment Research cut shares of Advanced Energy Industries from a strong-buy rating to a hold rating in a report on Tuesday, October 3rd. BidaskClub cut shares of Advanced Energy Industries from a buy rating to a hold rating in a report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a buy rating on shares of Advanced Energy Industries in a report on Friday, October 13th. Finally, Stifel Nicolaus assumed coverage on shares of Advanced Energy Industries in a report on Wednesday, August 23rd. They issued a hold rating and a $74.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $72.60.

Advanced Energy Industries (NASDAQ:AEIS) opened at 91.43 on Friday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 23.23 and a beta of 1.38. Advanced Energy Industries has a 1-year low of $46.39 and a 1-year high of $92.10. The stock has a 50 day moving average price of $81.06 and a 200-day moving average price of $74.82.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, July 31st. The electronics maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.15. The firm had revenue of $165.95 million during the quarter, compared to analysts’ expectations of $155.72 million. Advanced Energy Industries had a net margin of 27.42% and a return on equity of 36.19%. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts forecast that Advanced Energy Industries will post $4.60 EPS for the current year.

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In other news, CEO Yuval Wasserman sold 11,744 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $75.09, for a total value of $881,856.96. Following the sale, the chief executive officer now directly owns 127,396 shares in the company, valued at $9,566,165.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Liguori sold 16,000 shares of the 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. Insiders sold 61,413 shares of company stock worth $4,975,307 over the last quarter. Company insiders own 1.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its position in Advanced Energy Industries by 0.7% during the second quarter. D.A. Davidson & CO. now owns 2,207 shares of the electronics maker’s stock worth $142,000 after acquiring an additional 16 shares during the last quarter. US Bancorp DE boosted its position in Advanced Energy Industries by 0.4% during the second quarter. US Bancorp DE now owns 5,136 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 18 shares during the last quarter. Alps Advisors Inc. boosted its position in Advanced Energy Industries by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,205 shares of the electronics maker’s stock worth $466,000 after acquiring an additional 19 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Advanced Energy Industries by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 3,174 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 34 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Advanced Energy Industries by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,487 shares of the electronics maker’s stock worth $225,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.

Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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