Advanced Energy Industries, Inc. (NASDAQ:AEIS – Get Free Report) gapped down before the market opened on Wednesday after Wells Fargo & Company lowered their price target on the stock from $108.00 to $97.00. The stock had previously closed at $106.60, but opened at $96.55. Wells Fargo & Company currently has an equal weight rating on the stock. Advanced Energy Industries shares last traded at $99.70, with a volume of 89,745 shares traded.
Several other brokerages have also commented on AEIS. TheStreet upgraded Advanced Energy Industries from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James lowered their target price on shares of Advanced Energy Industries from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 1st. Susquehanna cut their price target on shares of Advanced Energy Industries from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Bank of America assumed coverage on shares of Advanced Energy Industries in a research note on Thursday, November 30th. They set a “neutral” rating and a $105.00 price objective for the company. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Advanced Energy Industries in a research report on Wednesday, December 6th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Advanced Energy Industries presently has an average rating of “Hold” and an average price target of $113.11.
Insider Buying and Selling at Advanced Energy Industries
In related news, Director Ronald C. Foster sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the director now owns 618 shares of the company’s stock, valued at approximately $58,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 2,914 shares of company stock valued at $286,339. Corporate insiders own 2.00% of the company’s stock.
Institutional Trading of Advanced Energy Industries
Several institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Advanced Energy Industries by 6.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,220 shares of the electronics maker’s stock worth $1,138,000 after buying an additional 828 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Advanced Energy Industries by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 395,624 shares of the electronics maker’s stock worth $34,056,000 after acquiring an additional 7,996 shares during the last quarter. US Bancorp DE increased its position in shares of Advanced Energy Industries by 29.9% during the first quarter. US Bancorp DE now owns 1,829 shares of the electronics maker’s stock worth $158,000 after purchasing an additional 421 shares in the last quarter. HighTower Advisors LLC raised its stake in Advanced Energy Industries by 24.5% in the 1st quarter. HighTower Advisors LLC now owns 3,841 shares of the electronics maker’s stock valued at $330,000 after purchasing an additional 755 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Advanced Energy Industries by 8.0% in the 1st quarter. Citigroup Inc. now owns 33,944 shares of the electronics maker’s stock valued at $2,922,000 after purchasing an additional 2,519 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.
Advanced Energy Industries Price Performance
The stock’s fifty day moving average price is $104.43 and its 200-day moving average price is $103.74. The firm has a market cap of $3.69 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 5.02 and a beta of 1.58. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.32 and a quick ratio of 4.16.
About Advanced Energy Industries
Advanced Energy Industries, Inc designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, and high voltage systems, as well as radio frequency (RF) power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications.