Citigroup Inc. began coverage on shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) in a research report sent to investors on Wednesday. The brokerage issued a neutral rating and a $50.00 price target on the stock.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Advanced Energy Industries from a strong-buy rating to a hold rating in a research report on Tuesday, October 4th. Dougherty & Co lifted their target price on shares of Advanced Energy Industries from $38.00 to $46.00 and gave the company a buy rating in a report on Thursday, July 28th. Finally, Raymond James Financial Inc. lowered shares of Advanced Energy Industries from an outperform rating to a market perform rating in a report on Thursday, July 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $41.83.
Advanced Energy Industries (NASDAQ:AEIS) opened at 46.14 on Wednesday. The stock has a 50 day moving average price of $45.94 and a 200 day moving average price of $39.62. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 17.68 and a beta of 0.89. Advanced Energy Industries has a 12-month low of $24.25 and a 12-month high of $48.59.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The business had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $111.52 million. Advanced Energy Industries had a return on equity of 28.45% and a net margin of 24.01%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. On average, analysts expect that Advanced Energy Industries will post $2.73 EPS for the current year.
A number of institutional investors have recently made changes to their positions in AEIS. PNC Financial Services Group Inc. raised its position in shares of 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 worth $101,000 after buying an additional 719 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of Advanced Energy Industries during the second quarter worth $106,000. BlackRock Inc. raised its position in shares of Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock worth $109,000 after buying an additional 718 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Advanced Energy Industries by 4.1% in the second quarter. PineBridge Investments L.P. now owns 5,018 shares of the company’s stock worth $191,000 after buying an additional 196 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Advanced Energy Industries by 32.7% in the second quarter. US Bancorp DE now owns 5,230 shares of the company’s stock worth $198,000 after buying an additional 1,289 shares during the last quarter. Institutional investors own 96.17% of the company’s stock.
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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