Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) was upgraded by Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $140.00 target price on the electronics maker's stock. Bank of America's price objective indicates a potential upside of 19.43% from the company's previous close.
AEIS has been the topic of several other research reports. Susquehanna dropped their price objective on shares of Advanced Energy Industries from $103.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. TD Cowen dropped their price target on Advanced Energy Industries from $120.00 to $118.00 and set a "hold" rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a "hold" rating on shares of Advanced Energy Industries in a research note on Wednesday, November 20th. Benchmark reaffirmed a "buy" rating and set a $125.00 target price on shares of Advanced Energy Industries in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price target on shares of Advanced Energy Industries from $98.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.25.
Read Our Latest Stock Report on AEIS
AEIS stock opened at $117.22 on Monday. Advanced Energy Industries has a 1-year low of $89.11 and a 1-year high of $120.81. The company has a current ratio of 4.62, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $112.38 and a 200-day moving average price of $108.01. The firm has a market cap of $4.42 billion, a PE ratio of 102.82, a price-to-earnings-growth ratio of 6.92 and a beta of 1.47.
Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. The firm had revenue of $374.20 million for the quarter, compared to analyst estimates of $372.49 million. Advanced Energy Industries had a return on equity of 9.02% and a net margin of 2.91%. The company's revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, equities research analysts expect that Advanced Energy Industries will post 2.52 earnings per share for the current year.
In related news, Director Lanesha Minnix sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $111.72, for a total transaction of $111,720.00. Following the completion of the sale, the director now directly owns 5,092 shares of the company's stock, valued at approximately $568,878.24. This trade represents a 16.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of AEIS. Earnest Partners LLC boosted its holdings in shares of Advanced Energy Industries by 13.5% in the 2nd quarter. Earnest Partners LLC now owns 1,681,776 shares of the electronics maker's stock worth $182,910,000 after buying an additional 199,578 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Advanced Energy Industries by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 950,977 shares of the electronics maker's stock valued at $103,428,000 after acquiring an additional 15,577 shares during the period. Geode Capital Management LLC increased its stake in shares of Advanced Energy Industries by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 884,402 shares of the electronics maker's stock worth $93,094,000 after purchasing an additional 15,030 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Advanced Energy Industries by 22.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 647,682 shares of the electronics maker's stock worth $70,442,000 after purchasing an additional 118,328 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Advanced Energy Industries by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 540,213 shares of the electronics maker's stock valued at $58,754,000 after purchasing an additional 102,659 shares during the last quarter. Institutional investors own 99.67% of the company's stock.
Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.
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