Advanced Energy Industries (NASDAQ:AEIS) Research Coverage Started at Needham & Company LLC

Needham & Company LLC started coverage on shares of Advanced Energy Industries (NASDAQ:AEIS) in a report issued on Thursday morning, AnalystRatings.com reports. The firm issued a buy rating and a $75.00 price objective on the electronics maker’s stock.

AEIS has been the topic of a number of other research reports. TheStreet downgraded Advanced Energy Industries from a b- rating to a c+ rating in a research note on Tuesday, November 12th. Cowen upped their price objective on Advanced Energy Industries from $57.00 to $60.00 and gave the stock a market perform rating in a report on Wednesday, November 13th. Citigroup upgraded Advanced Energy Industries from a neutral rating to a buy rating and increased their target price for the company from $55.00 to $68.00 in a research report on Monday, September 23rd. BidaskClub raised shares of Advanced Energy Industries from a sell rating to a hold rating in a report on Saturday, September 7th. Finally, DA Davidson boosted their price target on shares of Advanced Energy Industries from $68.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Advanced Energy Industries currently has an average rating of Hold and a consensus target price of $73.00.

AEIS opened at $65.27 on Thursday. The company has a market capitalization of $2.44 billion, a PE ratio of 29.44 and a beta of 1.53. The firm has a 50-day simple moving average of $61.52 and a two-hundred day simple moving average of $55.55. The company has a quick ratio of 1.80, a current ratio of 2.47 and a debt-to-equity ratio of 0.64. Advanced Energy Industries has a 52 week low of $38.74 and a 52 week high of $72.26.

Advanced Energy Industries (NASDAQ:AEIS) last issued its earnings results on Tuesday, November 12th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.22. The firm had revenue of $175.10 million for the quarter, compared to analysts’ expectations of $153.03 million. Advanced Energy Industries had a return on equity of 13.00% and a net margin of 12.25%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. As a group, sell-side analysts expect that Advanced Energy Industries will post 2.11 earnings per share for the current year.

In related news, CEO Yuval Wasserman sold 6,610 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $60.05, for a total value of $396,930.50. Following the completion of the transaction, the chief executive officer now owns 160,801 shares of the company’s stock, valued at approximately $9,656,100.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY raised its holdings in Advanced Energy Industries by 6.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 12,366 shares of the electronics maker’s stock valued at $710,000 after buying an additional 775 shares during the period. Millennium Management LLC purchased a new stake in shares of Advanced Energy Industries in the third quarter valued at $240,000. Man Group plc lifted its holdings in shares of Advanced Energy Industries by 12.4% in the 3rd quarter. Man Group plc now owns 180,673 shares of the electronics maker’s stock worth $10,372,000 after acquiring an additional 19,943 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Advanced Energy Industries by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 59,562 shares of the electronics maker’s stock worth $3,419,000 after acquiring an additional 945 shares during the last quarter. Finally, Phoenix Holdings Ltd. bought a new stake in shares of Advanced Energy Industries in the 3rd quarter worth about $22,672,000. 99.81% of the stock is currently 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, measurement, and control solutions that transform electrical power into various usable forms. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

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