Advanced Energy Industries Inc. (NASDAQ:AEIS) shot up 1.8% on Wednesday . The stock traded as high as $40.15 and last traded at $39.95, with a volume of 94,120 shares. The stock had previously closed at $39.26.

Several brokerages recently weighed in on AEIS. Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Wednesday, May 4th. Citigroup Inc. lowered Advanced Energy Industries to a “market perform” rating in a report on Thursday. They noted that the move was a valuation call. Raymond James Financial Inc. lowered Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday. Bank of America Corp. lowered Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Wednesday, April 20th. They noted that the move was a valuation call. Finally, Needham & Company LLC lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a report on Monday, April 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Advanced Energy Industries currently has a consensus rating of “Hold” and an average price target of $37.00.

The stock’s 50 day moving average price is $37.95 and its 200 day moving average price is $32.86. The firm’s market capitalization is $1.53 billion.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings results on Monday, May 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $103 million for the quarter, compared to the consensus estimate of $95.89 million. During the same period in the previous year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Analysts forecast that Advanced Energy Industries Inc. will post $2.45 earnings per share for the current year.

Several hedge funds and institutional investors have made changes to their positions in the stock. Rhumbline Advisers increased its position in shares of Advanced Energy Industries by 3.8% in the fourth quarter. Rhumbline Advisers now owns 61,903 shares of the company’s stock worth $1,748,000 after buying an additional 2,260 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Advanced Energy Industries by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 285,800 shares of the company’s stock worth $8,068,000 after buying an additional 2,700 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Advanced Energy Industries by 1.4% in the fourth quarter. New York State Common Retirement Fund now owns 482,187 shares of the company’s stock worth $13,612,000 after buying an additional 6,600 shares during the last quarter. Bank of Montreal Can increased its position in shares of Advanced Energy Industries by 253.5% in the fourth quarter. Bank of Montreal Can now owns 83,502 shares of the company’s stock worth $2,358,000 after buying an additional 59,879 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Advanced Energy Industries by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 277,878 shares of the company’s stock worth $7,845,000 after buying an additional 8,713 shares during the last quarter.

Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.

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