Shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) shot up 1.3% during trading on Wednesday . The stock traded as high as $42.22 and last traded at $42.12, with a volume of 84,898 shares. The stock had previously closed at $41.56.

Several brokerages recently commented on AEIS. Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Thursday, August 4th. Dougherty & Co lifted their price objective on Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Raymond James Financial Inc. lowered Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, July 14th. Finally, Citigroup Inc. lowered Advanced Energy Industries to a “market perform” rating in a report on Thursday, July 14th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.20.

The firm’s 50-day moving average is $40.13 and its 200-day moving average is $35.28. The company has a market cap of $1.68 billion and a P/E ratio of 16.21.

Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $111.52 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts anticipate that Advanced Energy Industries Inc. will post $2.71 EPS for the current fiscal year.

Other hedge funds recently bought and sold shares of the company. Bank of Montreal Can raised its stake 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 worth $2,358,000 after buying an additional 59,879 shares in the last quarter. Rhumbline Advisers raised its stake 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 valued at $1,748,000 after buying an additional 2,260 shares in the last quarter. KBC Group NV raised its stake 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 valued at $1,548,000 after buying an additional 8,986 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Advanced Energy Industries during the fourth quarter valued at approximately $1,561,000.

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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