Shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.24 and last traded at $39.78, with a volume of 61,874 shares traded. The stock had previously closed at $40.00.

Several analysts recently issued reports on the company. Needham & Company LLC cut Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Wednesday, May 4th. Susquehanna cut Advanced Energy Industries from a “positive” rating to a “neutral” rating in a research report on Tuesday, April 19th. Bank of America Corp. cut Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Wednesday, April 20th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $37.00.

The company’s market capitalization is $1.57 billion. The company has a 50-day moving average price of $38.15 and a 200 day moving average price of $33.17.

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

Several institutional investors have added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its position in 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 valued at $13,612,000 after buying an additional 6,600 shares during the period. California Public Employees Retirement System increased its position in 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 valued at $8,068,000 after buying an additional 2,700 shares during the period. Principal Financial Group Inc. increased its position in Advanced Energy Industries by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 277,878 shares of the company’s stock valued at $7,845,000 after buying an additional 8,713 shares during the period. Bank of Montreal Can increased its position in Advanced Energy Industries by 253.5% in the fourth quarter. Bank of Montreal Can now owns 83,502 shares of the company’s stock valued at $2,358,000 after buying an additional 59,879 shares during the period. Finally, Rhumbline Advisers increased its position in Advanced Energy Industries by 3.8% in the fourth quarter. Rhumbline Advisers now owns 61,903 shares of the company’s stock valued at $1,748,000 after buying an additional 2,260 shares during the period.

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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