Advanced Energy Industries (NASDAQ:AEIS) Cut to “Hold” at BidaskClub

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BidaskClub lowered shares of Advanced Energy Industries (NASDAQ:AEIS) from a buy rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other equities analysts have also issued reports on AEIS. Zacks Investment Research lowered shares of Advanced Energy Industries from a hold rating to a strong sell rating in a report on Monday, May 13th. Susquehanna Bancshares raised shares of Advanced Energy Industries from a neutral rating to a positive rating and boosted their price objective for the company from $45.00 to $82.00 in a report on Wednesday, May 15th. Cowen reissued an outperform rating and set a $60.00 price objective (up from $58.00) on shares of Advanced Energy Industries in a report on Thursday, May 16th. Finally, DA Davidson lowered shares of Advanced Energy Industries from a buy rating to a neutral rating and dropped their price objective for the company from $60.00 to $55.00 in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $64.20.

NASDAQ AEIS opened at $51.30 on Friday. The business has a fifty day moving average price of $55.29. The company has a quick ratio of 4.23, a current ratio of 5.12 and a debt-to-equity ratio of 0.05. Advanced Energy Industries has a 12-month low of $38.74 and a 12-month high of $62.37. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 3.17 and a beta of 1.51.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Monday, August 5th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.15. Advanced Energy Industries had a net margin of 17.46% and a return on equity of 22.16%. The business had revenue of $134.81 million for the quarter, compared to analyst estimates of $135.78 million. During the same period in the previous year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was down 31.2% on a year-over-year basis. On average, analysts forecast that Advanced Energy Industries will post 1.71 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in AEIS. Strs Ohio purchased a new stake in shares of Advanced Energy Industries during the second quarter valued at $33,000. Pearl River Capital LLC grew its holdings in shares of Advanced Energy Industries by 214.4% during the first quarter. Pearl River Capital LLC now owns 1,572 shares of the electronics maker’s stock valued at $78,000 after buying an additional 1,072 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Advanced Energy Industries by 471.0% during the first quarter. Quadrant Capital Group LLC now owns 1,890 shares of the electronics maker’s stock valued at $89,000 after buying an additional 1,559 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Advanced Energy Industries in the second quarter valued at $208,000. Finally, Millennium Management LLC boosted its holdings in Advanced Energy Industries by 30.3% in the fourth quarter. Millennium Management LLC now owns 5,670 shares of the electronics maker’s stock valued at $243,000 after purchasing an additional 1,317 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Energy Industries Company Profile

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion, measurement, and control solutions that transform electrical power into various usable forms. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

See Also: Diversification in Investing

Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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