Advanced Energy Industries (NASDAQ:AEIS) had its price target decreased by Cowen from $76.00 to $58.00 in a research note published on Wednesday, Marketbeat reports. Cowen currently has an outperform rating on the electronics maker’s stock.
AEIS has been the topic of a number of other research reports. BidaskClub lowered Advanced Energy Industries from a sell rating to a strong sell rating in a report on Friday, July 27th. Citigroup decreased their price objective on Advanced Energy Industries from $68.00 to $58.00 and set a neutral rating on the stock in a report on Tuesday, September 25th. Raymond James upgraded Advanced Energy Industries from a market perform rating to an outperform rating in a report on Thursday, July 5th. They noted that the move was a valuation call. Stifel Nicolaus reduced their price target on Advanced Energy Industries from $87.00 to $78.00 and set a hold rating on the stock in a report on Wednesday, August 1st. Finally, Zacks Investment Research lowered Advanced Energy Industries from a buy rating to a hold rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $70.17.
Shares of AEIS stock opened at $46.87 on Wednesday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.05 and a beta of 1.16. Advanced Energy Industries has a fifty-two week low of $40.43 and a fifty-two week high of $87.38.
Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, October 29th. The electronics maker reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $173.10 million for the quarter, compared to analyst estimates of $170.50 million. Advanced Energy Industries had a return on equity of 32.09% and a net margin of 13.18%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. As a group, equities research analysts forecast that Advanced Energy Industries will post 4.45 earnings per share for the current fiscal year.
In other news, CFO Thomas O. Mcgimpsey sold 8,391 shares of Advanced Energy Industries stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $59.32, for a total transaction of $497,754.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB raised its holdings in Advanced Energy Industries by 16.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,237 shares of the electronics maker’s stock valued at $362,000 after buying an additional 900 shares during the period. Rhumbline Advisers raised its holdings in Advanced Energy Industries by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 99,035 shares of the electronics maker’s stock valued at $5,753,000 after buying an additional 938 shares during the period. Meadow Creek Investment Management LLC raised its holdings in Advanced Energy Industries by 20.5% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,600 shares of the electronics maker’s stock valued at $325,000 after buying an additional 952 shares during the period. Dana Investment Advisors Inc. raised its holdings in Advanced Energy Industries by 2.9% in the 2nd quarter. Dana Investment Advisors Inc. now owns 35,317 shares of the electronics maker’s stock valued at $2,052,000 after buying an additional 994 shares during the period. Finally, NumerixS Investment Technologies Inc raised its holdings in Advanced Energy Industries by 39.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,900 shares of the electronics maker’s stock valued at $226,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.
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