Advanced Energy Industries Inc. (NASDAQ:AEIS) reached a new 52-week high during trading on Wednesday . The company traded as high as $40.97 and last traded at $40.67, with a volume of 56,857 shares traded. The stock had previously closed at $40.51.

A number of equities research analysts have commented on the stock. Susquehanna lifted their target price on shares of Advanced Energy Industries from $35.00 to $39.00 in a research report on Tuesday, March 29th. Raymond James Financial Inc. downgraded shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Citigroup Inc. cut shares of Advanced Energy Industries to a “market perform” rating in a research note on Thursday, July 14th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Bank of America Corp. cut shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Wednesday, April 20th. 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 company. Advanced Energy Industries presently has an average rating of “Hold” and a consensus price target of $37.00.

The firm’s 50-day moving average price is $38.35 and its 200-day moving average price is $33.61. The stock’s market cap is $1.61 billion.

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

Other hedge funds and institutional investors recently modified their holdings of the company. Globeflex Capital L P raised 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. KBC Group NV raised its position in shares of Advanced Energy Industries by 19.6% in the fourth quarter. KBC Group NV now owns 54,851 shares of the company’s stock worth $1,548,000 after buying an additional 8,986 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Advanced Energy Industries during the fourth quarter worth about $1,561,000. Rhumbline Advisers raised 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. Finally, Bank of Montreal Can raised 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.

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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