Advanced Energy Industries (NASDAQ:AEIS) Upgraded by Citigroup to “Buy” Rating

Advanced Energy Industries (NASDAQ:AEIS) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday,Briefing.com Automated Import reports. The firm currently has a $138.00 target price on the electronics maker’s stock, up from their prior target price of $110.00. Citigroup’s price objective indicates a potential upside of 16.39% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $125.00 price objective on shares of Advanced Energy Industries in a research note on Wednesday, November 20th. 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 report on Friday, December 6th. Baird R W upgraded Advanced Energy Industries to a “strong-buy” rating in a report on Friday, September 20th. Susquehanna reduced their target price on Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, TD Cowen dropped their price target on Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Energy Industries currently has an average rating of “Moderate Buy” and an average price target of $123.38.

Advanced Energy Industries Trading Up 2.8 %

Advanced Energy Industries stock opened at $118.57 on Monday. The stock has a market cap of $4.47 billion, a PE ratio of 104.01, a P/E/G ratio of 6.92 and a beta of 1.47. 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 $114.87 and a 200 day moving average price of $108.93. Advanced Energy Industries has a 52 week low of $89.11 and a 52 week high of $124.48.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data 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. Advanced Energy Industries had a net margin of 2.91% and a return on equity of 9.02%. The business had revenue of $374.20 million for the quarter, compared to the consensus estimate of $372.49 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities research analysts predict that Advanced Energy Industries will post 2.52 earnings per share for the current fiscal year.

Insider Transactions at Advanced Energy Industries

In other news, Director Lanesha Minnix sold 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Advanced Energy Industries

A number of institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC raised its holdings in Advanced Energy Industries by 6.1% in the second quarter. Natixis Advisors LLC now owns 30,020 shares of the electronics maker’s stock valued at $3,265,000 after acquiring an additional 1,719 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Advanced Energy Industries by 2.0% during the second quarter. Arizona State Retirement System now owns 10,449 shares of the electronics maker’s stock worth $1,136,000 after purchasing an additional 203 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Advanced Energy Industries in the second quarter worth about $6,873,000. Caprock Group LLC bought a new stake in Advanced Energy Industries in the second quarter valued at about $235,000. Finally, Connable Office Inc. raised its stake in Advanced Energy Industries by 18.0% during the second quarter. Connable Office Inc. now owns 4,649 shares of the electronics maker’s stock valued at $506,000 after buying an additional 708 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

About Advanced Energy Industries

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.