Advanced Energy Industries, Inc. (AEIS) Rating Increased to Buy at 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 issued on Friday. The firm presently has a $93.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.78% 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 analysts also recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Advanced Energy Industries in a report on Sunday, October 15th. Needham & Company LLC reiterated 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 initiated coverage on shares of Advanced Energy Industries in a report on Wednesday, August 23rd. They issued a “hold” rating and a $74.00 target price for the company. Finally, ValuEngine downgraded 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 assigned a buy rating to the company. Advanced Energy Industries has a consensus rating of “Hold” and an average target price of $81.60.

Shares of Advanced Energy Industries (NASDAQ:AEIS) traded down $0.11 during midday trading on Friday, hitting $83.20. 411,871 shares of the stock were exchanged, compared to its average volume of 502,600. The firm has a market cap of $3,299.46, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.34 and a beta of 1.36.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The business had revenue of $176.60 million during the quarter, compared to the consensus estimate of $165.77 million. Advanced Energy Industries had a net margin of 33.76% and a return on equity of 35.56%. The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. analysts anticipate that Advanced Energy Industries will post 4.24 EPS for the current year.

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In other Advanced Energy Industries news, CFO Thomas Liguori sold 16,000 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuval Wasserman sold 10,669 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was 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 of the company’s stock, valued at approximately $11,723,310. The disclosure for this sale can be found here. Insiders sold a total of 61,413 shares of company stock valued at $4,975,307 in the last quarter. 1.13% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of AEIS. UBS Asset Management Americas Inc. grew its stake in shares of Advanced Energy Industries by 26.4% in the first quarter. UBS Asset Management Americas Inc. now owns 23,785 shares of the electronics maker’s stock worth $1,631,000 after acquiring an additional 4,966 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of Advanced Energy Industries by 17.5% in the first quarter. OppenheimerFunds Inc. now owns 5,953 shares of the electronics maker’s stock worth $408,000 after acquiring an additional 887 shares in the last quarter. FMR LLC grew its stake in shares of Advanced Energy Industries by 8.6% in the first quarter. FMR LLC now owns 19,230 shares of the electronics maker’s stock worth $1,318,000 after acquiring an additional 1,530 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Advanced Energy Industries by 4.8% in the first quarter. Teachers Advisors LLC now owns 295,732 shares of the electronics maker’s stock worth $20,275,000 after acquiring an additional 13,563 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Advanced Energy Industries by 30.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,799 shares of the electronics maker’s stock worth $260,000 after acquiring an additional 883 shares in the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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