Advanced Energy Industries (NASDAQ:AEIS) Upgraded by Bank of America to Buy Rating

Advanced Energy Industries (NASDAQ:AEIS) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The firm currently has a $140.00 price objective on the electronics maker’s stock. Bank of America‘s target price would indicate a potential upside of 16.04% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Baird R W raised shares of Advanced Energy Industries to a “strong-buy” rating in a report on Friday, September 20th. Wells Fargo & Company raised their target price on Advanced Energy Industries from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on Advanced Energy Industries from $124.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com upgraded Advanced Energy Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Advanced Energy Industries in a report on Wednesday, November 20th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $120.25.

Advanced Energy Industries Stock Down 1.7 %

Shares of AEIS opened at $120.65 on Monday. Advanced Energy Industries has a 1 year low of $89.11 and a 1 year high of $124.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.62 and a quick ratio of 3.32. The stock has a 50 day simple moving average of $113.03 and a two-hundred day simple moving average of $108.21. The firm has a market cap of $4.55 billion, a P/E ratio of 105.83, a P/E/G ratio of 6.92 and a beta of 1.47.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $372.49 million. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, analysts forecast that Advanced Energy Industries will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Advanced Energy Industries

In other news, Director Lanesha Minnix sold 1,000 shares of Advanced Energy Industries stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total transaction of $111,720.00. Following the completion of the transaction, the director now directly owns 5,092 shares in the company, valued at approximately $568,878.24. This trade represents a 16.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Advanced Energy Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Earnest Partners LLC boosted its holdings in Advanced Energy Industries by 13.5% in the second quarter. Earnest Partners LLC now owns 1,681,776 shares of the electronics maker’s stock worth $182,910,000 after acquiring an additional 199,578 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 15,577 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Advanced Energy Industries by 1.7% during the third quarter. Geode Capital Management LLC now owns 884,402 shares of the electronics maker’s stock valued at $93,094,000 after buying an additional 15,030 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Advanced Energy Industries by 22.4% during the second quarter. The Manufacturers Life Insurance Company now owns 647,682 shares of the electronics maker’s stock valued at $70,442,000 after acquiring an additional 118,328 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Advanced Energy Industries by 23.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 540,213 shares of the electronics maker’s stock worth $58,754,000 after acquiring an additional 102,659 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

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.