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

Bank of America upgraded shares of Advanced Energy Industries (NASDAQ:AEIS) from a neutral rating to a buy rating in a report released on Monday morning, MarketBeat Ratings reports. Bank of America currently has $140.00 target price on the electronics maker’s stock.

A number of other analysts have also recently commented on the stock. Susquehanna dropped their price target on shares of Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. 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 lifted their target price on Advanced Energy Industries from $124.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Baird R W raised shares of Advanced Energy Industries to a “strong-buy” rating in a report on Friday, September 20th. Finally, TD Cowen reduced their price objective on shares of Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Advanced Energy Industries currently has an average rating of “Moderate Buy” and a consensus price target of $120.25.

Advanced Energy Industries Stock Performance

AEIS stock opened at $116.10 on Monday. The company has a quick ratio of 3.32, a current ratio of 4.62 and a debt-to-equity ratio of 0.48. The firm has a market cap of $4.37 billion, a PE ratio of 101.84, a P/E/G ratio of 6.92 and a beta of 1.47. The business has a 50 day moving average of $113.21 and a 200-day moving average of $108.27. Advanced Energy Industries has a 12-month low of $89.11 and a 12-month high of $124.48.

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, beating the consensus estimate of $0.91 by $0.07. The company had revenue of $374.20 million during the quarter, compared to analyst estimates of $372.49 million. Advanced Energy Industries had a net margin of 2.91% and a return on equity of 9.02%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. As a group, sell-side analysts expect that Advanced Energy Industries will post 2.52 earnings per share for the current year.

Advanced Energy Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 25th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, November 25th. Advanced Energy Industries’s payout ratio is 35.09%.

Insider Activity

In related news, Director Lanesha Minnix sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $111.72, for a total value of $111,720.00. Following the completion of the sale, the director now owns 5,092 shares of the company’s stock, valued at $568,878.24. This trade represents a 16.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its holdings in Advanced Energy Industries by 1.0% in the third quarter. Stifel Financial Corp now owns 10,752 shares of the electronics maker’s stock worth $1,132,000 after buying an additional 102 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Advanced Energy Industries by 1.7% in the second quarter. Azzad Asset Management Inc. ADV now owns 7,322 shares of the electronics maker’s stock worth $796,000 after purchasing an additional 124 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Advanced Energy Industries by 5.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,496 shares of the electronics maker’s stock worth $263,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Advanced Energy Industries by 68.4% during the third quarter. Meeder Asset Management Inc. now owns 458 shares of the electronics maker’s stock valued at $48,000 after buying an additional 186 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Advanced Energy Industries by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,449 shares of the electronics maker’s stock valued at $1,136,000 after buying an additional 203 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Advanced Energy Industries Company Profile

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.