Advanced Energy Industries (NASDAQ:AEIS) Stock Gets Price Target Trim from TD Cowen

Advanced Energy Industries (NASDAQ:AEIS) had its target price trimmed by TD Cowen from $370.00 to $275.00 in a report published on Tuesday,Benzinga reports. They currently have a hold rating on the electronics maker’s stock.

A number of other brokerages also recently weighed in on AEIS. Weiss Ratings reiterated a “hold (c+)” rating on shares of Advanced Energy Industries in a report on Wednesday, August 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Advanced Energy Industries in a report on Tuesday, September 22nd. Morgan Stanley set a $375.00 price objective on shares of Advanced Energy Industries in a research report on Monday, October 26th. Zacks Research downgraded shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Finally, Citigroup reiterated a “buy” rating on shares of Advanced Energy Industries in a research note on Monday, September 28th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Advanced Energy Industries has a consensus rating of “Moderate Buy” and a consensus price target of $391.64.

Advanced Energy Industries Stock Down 12.2%

Shares of Advanced Energy Industries stock opened at $185.66 on Tuesday. The stock has a 50-day moving average price of $261.91 and a 200 day moving average price of $306.57. The company has a market cap of $7.52 billion, a P/E ratio of 26.71, a P/E/G ratio of 0.43 and a beta of 1.38. The company has a current ratio of 3.62, a quick ratio of 2.94 and a debt-to-equity ratio of 0.71. Advanced Energy Industries has a 1 year low of $178.37 and a 1 year high of $397.44.

Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, November 2nd. The electronics maker reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.61. Advanced Energy Industries had a return on equity of 24.95% and a net margin of 12.72%. The firm had revenue of $696.40 million during the quarter, compared to analyst estimates of $644.85 million. During the same period last year, the company posted $1.74 EPS. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. As a group, analysts expect that Advanced Energy Industries will post 9.70 EPS for the current fiscal year.

Advanced Energy Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Monday, November 23rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, November 23rd. Advanced Energy Industries’s dividend payout ratio is presently 5.76%.

Insider Activity

In other news, COO Eduardo Acebedo sold 24,771 shares of Advanced Energy Industries stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the completion of the sale, the chief operating officer directly owned 23,109 shares in the company, valued at $7,290,427.32. The trade was a 51.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth Vonne sold 908 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $332.68, for a total value of $302,073.44. Following the completion of the sale, the executive vice president directly owned 10,712 shares of the company’s stock, valued at approximately $3,563,668.16. The trade was a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,218 shares of company stock worth $8,562,008. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Advanced Energy Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Advanced Energy Industries in the second quarter worth approximately $1,725,045,000. Bank of America Corp DE acquired a new position in shares of Advanced Energy Industries during the 2nd quarter worth $382,342,000. The Manufacturers Life Insurance Company acquired a new position in shares of Advanced Energy Industries during the 2nd quarter worth $166,162,000. Bank of New York Mellon Corp acquired a new position in shares of Advanced Energy Industries during the 2nd quarter worth $95,719,000. Finally, Bamco Inc. NY bought a new position in shares of Advanced Energy Industries during the 2nd quarter valued at $51,966,000. Institutional investors own 99.67% of the company’s stock.

Key Headlines Impacting Advanced Energy Industries

Here are the key news stories impacting Advanced Energy Industries this week:

• Positive Sentiment: AEIS reported Q3 earnings of $3.65 per share, above the $3.04 consensus estimate, and revenue of $696.4 million versus expectations of $644.85 million. Revenue rose 50.3% year over year; the results initially prompted a sharp share-price gain. Advanced Energy Industries rose 10% after record Q3 results
• Positive Sentiment: A separate analysis highlighted the strong earnings and guidance as reasons to reconsider the company’s valuation, supporting the bullish case. Is Advanced Energy Industries Undervalued?
• Neutral Sentiment: The company declared a quarterly dividend of $0.10 per share, payable December 4 to shareholders of record November 23. The annualized payout is $0.40 per share, a yield of about 0.2%. Advanced Energy Declares Quarterly Cash Dividend
• Negative Sentiment: Several analysts issued more cautious views: Morgan Stanley and TD Cowen published pessimistic forecasts, while Robert W. Baird cut its price target. These actions may have pressured the stock despite the strong quarterly report. Morgan Stanley forecast TD Cowen forecast Baird price target cut

About Advanced Energy Industries

Advanced Energy Industries, Inc develops and manufactures precision power-conversion, measurement and control technologies. Its products are designed to regulate, transform and deliver electrical power with high levels of accuracy and reliability in demanding industrial applications.

The company’s portfolio includes direct-current and alternating-current power supplies, radio-frequency power systems, high-voltage power supplies, thermal-management equipment, power control modules, and measurement and control instruments.