Advanced Energy Industries Inc. (NASDAQ:AEIS)’s share price fell 2.1% on Thursday . The company traded as low as $38.00 and last traded at $39.08, with a volume of 153,175 shares changing hands. The stock had previously closed at $39.90.

A number of research firms have commented on AEIS. Needham & Company LLC downgraded 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. Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Wednesday, May 4th. Susquehanna downgraded Advanced Energy Industries from a “positive” rating to a “neutral” rating in a report on Tuesday, April 19th. Bank of America Corp. downgraded Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Wednesday, April 20th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. downgraded Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Advanced Energy Industries currently has an average rating of “Hold” and a consensus price target of $37.00.

The stock has a 50-day moving average of $38.01 and a 200-day moving average of $32.93. The stock’s market capitalization is $1.55 billion.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. During the same period in the prior year, the company posted $0.57 earnings per share. The firm had revenue of $103 million for the quarter, compared to analyst estimates of $95.89 million. The business’s revenue was down 5.9% on a year-over-year basis. On average, analysts forecast that Advanced Energy Industries Inc. will post $2.45 earnings per share for the current fiscal year.

Other hedge funds and institutional investors recently modified their holdings of the company. Globeflex Capital L P increased its position in shares of Advanced Energy Industries by 9.6% in the fourth quarter. Globeflex Capital L P now owns 35,547 shares of the company’s stock worth $1,003,000 after buying an additional 3,114 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Advanced Energy Industries during the fourth quarter worth approximately $1,561,000. 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. 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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