Advanced Energy Industries, Inc. (AEIS) Upgraded to “Buy” by 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 Friday. The brokerage presently has a $93.00 price target on the electronics maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.98% from the company’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, “
Several other research analysts have also recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. Needham & Company LLC restated a “buy” rating on shares of Advanced Energy Industries in a report on Friday, October 13th. BidaskClub upgraded shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Stifel Nicolaus started coverage on shares of Advanced Energy Industries in a report on Wednesday, August 23rd. They set a “hold” rating and a $74.00 price target on the stock. Finally, ValuEngine cut shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $81.60.
Shares of Advanced Energy Industries (AEIS) traded up $1.82 during midday trading on Friday, hitting $83.80. 43,746 shares of the stock were exchanged, compared to its average volume of 502,600. The stock 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 released its quarterly earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $176.60 million for the quarter, compared to analysts’ expectations of $165.77 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. research analysts anticipate that Advanced Energy Industries will post 4.24 EPS for the current fiscal year.
In other Advanced Energy Industries news, CFO Thomas Liguori sold 16,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.64, for a total value of $1,178,240.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Yuval Wasserman sold 10,669 shares of the business’s stock in a transaction dated 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 owns 130,259 shares in the company, valued at $11,723,310. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,413 shares of company stock worth $4,975,307. Corporate insiders own 1.13% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Advanced Energy Industries by 3.1% in the second quarter. BlackRock Inc. now owns 5,127,265 shares of the electronics maker’s stock valued at $331,682,000 after acquiring an additional 155,880 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Advanced Energy Industries by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,757,244 shares of the electronics maker’s stock valued at $257,596,000 after purchasing an additional 141,520 shares during the period. State Street Corp raised its position in shares of Advanced Energy Industries by 4.1% in the second 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 during the period. Northern Trust Corp raised its position in shares of Advanced Energy Industries by 2.7% in the second quarter. Northern Trust Corp now owns 897,325 shares of the electronics maker’s stock valued at $58,049,000 after purchasing an additional 24,006 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Advanced Energy Industries by 204.6% in the third quarter. Victory Capital Management Inc. now owns 775,433 shares of the electronics maker’s stock valued at $62,623,000 after purchasing an additional 520,884 shares during the period. Hedge funds and other institutional investors own 91.90% of the company’s stock.
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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