Advanced Energy Industries (AEIS) Price Target Cut to $50.00 by Analysts at Citigroup

Advanced Energy Industries (NASDAQ:AEIS) had its price target dropped by investment analysts at Citigroup from $58.00 to $50.00 in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the electronics maker’s stock. Citigroup’s price objective would indicate a potential upside of 10.57% from the company’s current price.

AEIS has been the topic of several other research reports. Cowen lowered their price objective on shares of Advanced Energy Industries from $76.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday. Zacks Investment Research downgraded shares of Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Stifel Nicolaus set a $74.00 price objective on shares of Advanced Energy Industries and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. BidaskClub downgraded shares of Advanced Energy Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Finally, Raymond James upgraded shares of Advanced Energy Industries from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Advanced Energy Industries currently has an average rating of “Hold” and an average price target of $70.17.

AEIS stock traded up $2.19 during midday trading on Wednesday, hitting $45.22. 48,010 shares of the company traded hands, compared to its average volume of 429,938. Advanced Energy Industries has a twelve month low of $40.43 and a twelve month high of $91.08. The company has a market cap of $1.59 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.



Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Monday, October 29th. The electronics maker reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. Advanced Energy Industries had a return on equity of 32.09% and a net margin of 13.18%. The company had revenue of $173.10 million for the quarter, compared to the consensus estimate of $170.50 million. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Advanced Energy Industries will post 4.45 earnings per share for the current fiscal year.

In other news, CFO Thomas O. Mcgimpsey sold 8,391 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $59.32, for a total value of $497,754.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Advanced Energy Industries by 5.5% in the second quarter. BlackRock Inc. now owns 5,639,384 shares of the electronics maker’s stock worth $327,592,000 after purchasing an additional 293,718 shares during the period. Renaissance Technologies LLC lifted its position in Advanced Energy Industries by 26.3% in the second quarter. Renaissance Technologies LLC now owns 1,392,622 shares of the electronics maker’s stock worth $80,897,000 after purchasing an additional 290,200 shares during the period. Dimensional Fund Advisors LP lifted its position in Advanced Energy Industries by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,108,386 shares of the electronics maker’s stock worth $64,386,000 after purchasing an additional 22,118 shares during the period. Northern Trust Corp lifted its position in Advanced Energy Industries by 0.7% in the second quarter. Northern Trust Corp now owns 888,467 shares of the electronics maker’s stock worth $51,611,000 after purchasing an additional 6,572 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Advanced Energy Industries by 0.9% in the first quarter. Principal Financial Group Inc. now owns 651,524 shares of the electronics maker’s stock worth $41,632,000 after purchasing an additional 5,673 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

About Advanced Energy Industries

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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Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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