Advanced Energy Industries (NASDAQ:AEIS) Stock Gets Price Target Cut from Robert W. Baird

Advanced Energy Industries (NASDAQ:AEIS) had its target price lowered by Robert W. Baird from $410.00 to $330.00 in a report released on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the electronics maker’s stock.

AEIS has been the topic of a number of other research reports. Citigroup reaffirmed a “buy” rating on shares of Advanced Energy Industries in a research report on Monday, September 28th. Morgan Stanley set a $375.00 target price on shares of Advanced Energy Industries in a report on Monday, October 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Advanced Energy Industries in a report on Wednesday, August 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Advanced Energy Industries in a research report on Tuesday, September 22nd. Finally, TD Cowen raised their price target on shares of Advanced Energy Industries from $350.00 to $370.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Advanced Energy Industries currently has an average rating of “Moderate Buy” and a consensus target price of $391.64.

Advanced Energy Industries Stock Performance

Shares of NASDAQ:AEIS opened at $185.66 on Tuesday. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.38. Advanced Energy Industries has a 52 week low of $178.37 and a 52 week high of $397.44. The company has a quick ratio of 2.94, a current ratio of 3.62 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $261.91 and a 200 day moving average of $306.57.

Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, November 2nd. The electronics maker reported $3.65 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.61. The company had revenue of $696.40 million during the quarter, compared to analyst estimates of $644.85 million. Advanced Energy Industries had a return on equity of 24.95% and a net margin of 12.72%. Advanced Energy Industries’s revenue was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.74 earnings per share. On average, sell-side analysts predict that Advanced Energy Industries will post 9.70 earnings per share for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, November 23rd. Advanced Energy Industries’s dividend payout ratio is currently 5.76%.

Insider Buying and Selling at Advanced Energy Industries

In other news, COO Eduardo Acebedo sold 24,771 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the sale, the chief operating officer owned 23,109 shares in the company, valued at approximately $7,290,427.32. The trade was a 51.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Vonne sold 632 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $288.14, for a total transaction of $182,104.48. Following the transaction, the executive vice president owned 9,177 shares in the company, valued at $2,644,260.78. The trade was a 6.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,218 shares of company stock valued at $8,562,008. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Advanced Energy Industries during the second quarter worth approximately $1,725,045,000. Bank of America Corp DE acquired a new position in shares of Advanced Energy Industries during the 2nd quarter worth approximately $382,342,000. The Manufacturers Life Insurance Company acquired a new position in shares of Advanced Energy Industries during the 2nd quarter worth approximately $166,162,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Advanced Energy Industries by 17.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 335,591 shares of the electronics maker’s stock valued at $108,299,000 after buying an additional 48,842 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Advanced Energy Industries during the 2nd quarter valued at approximately $95,719,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Energy Industries News Summary

Here are the key news stories impacting Advanced Energy Industries this week:

• Positive Sentiment: AEIS reported Q3 earnings of $3.65 per share, above the $3.04 consensus estimate, and revenue of $696.4 million versus expectations of $644.85 million. Revenue rose 50.3% year over year; the results initially prompted a sharp share-price gain. Advanced Energy Industries rose 10% after record Q3 results
• Positive Sentiment: A separate analysis highlighted the strong earnings and guidance as reasons to reconsider the company’s valuation, supporting the bullish case. Is Advanced Energy Industries Undervalued?
• Neutral Sentiment: The company declared a quarterly dividend of $0.10 per share, payable December 4 to shareholders of record November 23. The annualized payout is $0.40 per share, a yield of about 0.2%. Advanced Energy Declares Quarterly Cash Dividend
• Negative Sentiment: Several analysts issued more cautious views: Morgan Stanley and TD Cowen published pessimistic forecasts, while Robert W. Baird cut its price target. These actions may have pressured the stock despite the strong quarterly report. Morgan Stanley forecast TD Cowen forecast Baird price target cut

About Advanced Energy Industries

Advanced Energy Industries, Inc develops and manufactures precision power-conversion, measurement and control technologies. Its products are designed to regulate, transform and deliver electrical power with high levels of accuracy and reliability in demanding industrial applications.

The company’s portfolio includes direct-current and alternating-current power supplies, radio-frequency power systems, high-voltage power supplies, thermal-management equipment, power control modules, and measurement and control instruments.