Advanced Energy Industries (NASDAQ:AEIS) Stock Gets Price Target Trim from Citigroup

Advanced Energy Industries (NASDAQ:AEIS) had its target price trimmed by Citigroup from $460.00 to $450.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the electronics maker’s stock.

Several other equities analysts have also recently issued reports on AEIS. TD Cowen dropped their price objective on shares of Advanced Energy Industries from $370.00 to $275.00 and set a “hold” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Advanced Energy Industries in a research report on Wednesday, August 26th. Zacks Research cut shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Robert W. Baird reduced their target price on shares of Advanced Energy Industries from $410.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Advanced Energy Industries in a report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $391.64.

Advanced Energy Industries Trading Down 12.2%

Shares of AEIS stock opened at $185.66 on Tuesday. The business’s 50 day moving average is $261.91 and its two-hundred day moving average is $306.57. Advanced Energy Industries has a twelve month low of $178.37 and a twelve month high of $397.44. The company has a market capitalization of $7.52 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.38. The company has a current ratio of 3.62, a quick ratio of 2.94 and a debt-to-equity ratio of 0.71.

Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Monday, November 2nd. The electronics maker reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.61. Advanced Energy Industries had a return on equity of 24.95% and a net margin of 12.72%. The business had revenue of $696.40 million for the quarter, compared to analyst estimates of $644.85 million. During the same quarter in the previous year, the company posted $1.74 earnings per share. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. Equities analysts forecast that Advanced Energy Industries will post 9.70 EPS for the current year.

Advanced Energy Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 23rd will be paid a $0.10 dividend. The ex-dividend date is Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Advanced Energy Industries’s payout ratio is 5.76%.

Insiders Place Their Bets

In related news, COO Eduardo Acebedo sold 24,771 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the transaction, the chief operating officer owned 23,109 shares of the company’s stock, valued at $7,290,427.32. This represents a 51.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth Vonne sold 908 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $332.68, for a total value of $302,073.44. Following the completion of the transaction, the executive vice president owned 10,712 shares of the company’s stock, valued at $3,563,668.16. The trade was a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,218 shares of company stock worth $8,562,008 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Advanced Energy Industries

A number of institutional investors and hedge funds have recently modified their holdings of AEIS. BlackRock Inc. acquired a new stake in Advanced Energy Industries during the 2nd quarter worth approximately $1,725,045,000. Bank of America Corp DE acquired a new position in Advanced Energy Industries during the second quarter valued at approximately $382,342,000. The Manufacturers Life Insurance Company acquired a new position in Advanced Energy Industries during the second quarter valued at approximately $166,162,000. Arrowstreet Capital Limited Partnership grew its stake in Advanced Energy Industries by 17.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 335,591 shares of the electronics maker’s stock worth $108,299,000 after buying an additional 48,842 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Advanced Energy Industries during the second quarter worth approximately $95,719,000. Institutional investors and hedge funds own 99.67% of the company’s stock.

Advanced Energy Industries News Roundup

Here are the key news stories impacting Advanced Energy Industries this week:

• Positive Sentiment: AEIS reported Q3 earnings of $3.65 per share, above the $3.04 consensus estimate, and revenue of $696.4 million versus expectations of $644.85 million. Revenue rose 50.3% year over year; the results initially prompted a sharp share-price gain. Advanced Energy Industries rose 10% after record Q3 results
• Positive Sentiment: A separate analysis highlighted the strong earnings and guidance as reasons to reconsider the company’s valuation, supporting the bullish case. Is Advanced Energy Industries Undervalued?
• Neutral Sentiment: The company declared a quarterly dividend of $0.10 per share, payable December 4 to shareholders of record November 23. The annualized payout is $0.40 per share, a yield of about 0.2%. Advanced Energy Declares Quarterly Cash Dividend
• Negative Sentiment: Several analysts issued more cautious views: Morgan Stanley and TD Cowen published pessimistic forecasts, while Robert W. Baird cut its price target. These actions may have pressured the stock despite the strong quarterly report. Morgan Stanley forecast TD Cowen forecast Baird price target cut

Advanced Energy Industries Company Profile

Advanced Energy Industries, Inc develops and manufactures precision power-conversion, measurement and control technologies. Its products are designed to regulate, transform and deliver electrical power with high levels of accuracy and reliability in demanding industrial applications.

The company’s portfolio includes direct-current and alternating-current power supplies, radio-frequency power systems, high-voltage power supplies, thermal-management equipment, power control modules, and measurement and control instruments.