Advanced Energy Industries Inc. (AEIS) Sees Large Volume Increase
Shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) saw unusually-high trading volume on Monday . Approximately 282,507 shares traded hands during trading, an increase of 15% from the previous session’s volume of 244,679 shares.The stock last traded at $43.91 and had previously closed at $43.64.
AEIS has been the subject of several research analyst reports. Zacks Investment Research raised shares of Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Wednesday, May 4th. Citigroup Inc. downgraded 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. Raymond James Financial Inc. downgraded shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 14th. Finally, Dougherty & Co lifted their price target on shares of Advanced Energy Industries from $38.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Advanced Energy Industries currently has an average rating of “Hold” and a consensus target price of $40.20.
The firm has a market capitalization of $1.74 billion and a P/E ratio of 16.79. The company has a 50-day moving average price of $40.47 and a 200 day moving average price of $35.61.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. During the same period last year, the company earned $0.43 EPS. The firm earned $118.80 million during the quarter, compared to analysts’ expectations of $111.52 million. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts forecast that Advanced Energy Industries Inc. will post $2.71 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of AEIS. KBC Group NV boosted its stake in 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 during the period. Marshall Wace LLP purchased a new stake in Advanced Energy Industries during the fourth quarter valued at $1,561,000. Finally, Bank of Montreal Can boosted 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 valued at $2,358,000 after buying an additional 59,879 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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