Advanced Energy Industries Inc. (NASDAQ:AEIS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
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, “
AEIS has been the topic of several other reports. Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Citigroup Inc. cut Advanced Energy Industries to a “market perform” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Dougherty & Co raised their target price on Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.20.
Advanced Energy Industries (NASDAQ:AEIS) opened at 47.25 on Tuesday. The stock’s 50 day moving average price is $45.12 and its 200 day moving average price is $39.01. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89. Advanced Energy Industries has a one year low of $24.25 and a one year high of $48.28.
Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings data on Monday, August 1st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. The company had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $111.52 million. During the same period last year, the firm posted $0.43 earnings per share. Advanced Energy Industries’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Advanced Energy Industries will post $2.73 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Advanced Energy Industries by 37.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the company’s stock valued at $101,000 after buying an additional 719 shares during the period. Paradigm Asset Management Co. LLC bought a new position in Advanced Energy Industries during the second quarter valued at approximately $106,000. BlackRock Inc. increased its position in Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock valued at $109,000 after buying an additional 718 shares during the period. PineBridge Investments L.P. increased its position in Advanced Energy Industries by 4.1% in the second quarter. PineBridge Investments L.P. now owns 5,018 shares of the company’s stock valued at $191,000 after buying an additional 196 shares during the period. Finally, US Bancorp DE increased its position in Advanced Energy Industries by 32.7% in the second quarter. US Bancorp DE now owns 5,230 shares of the company’s stock valued at $198,000 after buying an additional 1,289 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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