Advanced Energy (NASDAQ:AEIS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Monday.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Advanced Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Cowen initiated coverage on Advanced Energy in a research note on Tuesday, May 15th. They set an “outperform” rating and a $78.00 price objective for the company. Needham & Company LLC decreased their price objective on Advanced Energy from $97.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. Citigroup decreased their price objective on Advanced Energy from $77.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, May 2nd. Finally, ValuEngine cut Advanced Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Advanced Energy presently has an average rating of “Hold” and an average target price of $78.17.
Shares of Advanced Energy traded up $0.44, reaching $60.70, during trading on Monday, Marketbeat.com reports. 311,209 shares of the company were exchanged, compared to its average volume of 435,509. Advanced Energy has a twelve month low of $57.35 and a twelve month high of $95.00. The stock has a market cap of $2.37 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35.
Advanced Energy declared that its board has authorized a stock buyback program on Monday, May 7th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Advanced Energy news, CEO Yuval Wasserman sold 55,540 shares of Advanced Energy stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $62.40, for a total transaction of $3,465,696.00. Following the transaction, the chief executive officer now directly owns 141,929 shares in the company, valued at $8,856,369.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AEIS. Summit Trail Advisors LLC lifted its holdings in Advanced Energy by 5,051.2% during the first quarter. Summit Trail Advisors LLC now owns 106,167 shares of the electronics maker’s stock worth $106,000 after acquiring an additional 104,106 shares in the last quarter. Ramsey Quantitative Systems bought a new position in Advanced Energy during the fourth quarter worth about $193,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Advanced Energy during the fourth quarter worth about $223,000. Two Sigma Securities LLC bought a new position in Advanced Energy during the fourth quarter worth about $231,000. Finally, Xact Kapitalforvaltning AB bought a new position in Advanced Energy during the fourth quarter worth about $259,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.
Advanced Energy Company Profile
Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion and control products that transform electrical power into various usable forms. It offers process power systems, including direct current (DC), pulsed DC, low frequency, high voltage, and radio frequency (RF) power supplies, as well as matching networks and remote plasma sources for reactive gas applications and RF instrumentation.
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