Advanced Energy Industries (NASDAQ:AEIS) Rating Lowered to Neutral at Citigroup

Citigroup cut shares of Advanced Energy Industries (NASDAQ:AEIS) from a buy rating to a neutral rating in a research report sent to investors on Monday, BenzingaRatingsTable reports. Citigroup currently has $40.00 target price on the electronics maker’s stock, down from their prior target price of $87.00.

Several other research analysts have also recently commented on the company. BidaskClub cut Advanced Energy Industries from a hold rating to a sell rating in a research report on Saturday, March 14th. Susquehanna Bancshares reaffirmed a buy rating and issued a $90.00 target price (up from $80.00) on shares of Advanced Energy Industries in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $83.00 target price on shares of Advanced Energy Industries in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $70.60.

AEIS stock traded up $2.22 during midday trading on Monday, hitting $46.31. The stock had a trading volume of 386,110 shares, compared to its average volume of 311,892. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 27.40 and a beta of 1.63. Advanced Energy Industries has a 52 week low of $33.38 and a 52 week high of $78.49. The stock has a 50-day simple moving average of $60.00 and a 200 day simple moving average of $62.86. The company has a current ratio of 2.71, a quick ratio of 1.99 and a debt-to-equity ratio of 0.61.

Advanced Energy Industries (NASDAQ:AEIS) last issued its earnings results on Tuesday, February 18th. The electronics maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.70 by $0.17. The firm had revenue of $338.27 million during the quarter, compared to analysts’ expectations of $310.58 million. Advanced Energy Industries had a return on equity of 13.49% and a net margin of 8.23%. Advanced Energy Industries’s quarterly revenue was up 119.4% compared to the same quarter last year. During the same period last year, the business earned $0.73 earnings per share. On average, equities analysts forecast that Advanced Energy Industries will post 3.1 EPS for the current year.

Large investors have recently made changes to their positions in the company. Procyon Private Wealth Partners LLC acquired a new stake in shares of Advanced Energy Industries in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC increased its position in Advanced Energy Industries by 862.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 558 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 500 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Advanced Energy Industries by 33.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,246 shares of the electronics maker’s stock worth $89,000 after purchasing an additional 314 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Advanced Energy Industries in the fourth quarter worth about $105,000. Finally, Advisor Group Inc. increased its position in Advanced Energy Industries by 9.6% in the fourth quarter. Advisor Group Inc. now owns 1,617 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 142 shares during the period. Institutional investors own 99.83% of the company’s stock.

About Advanced Energy Industries

Advanced Energy Industries, Inc, together with its subsidiaries, designs, manufactures, sells, and supports power conversion, measurement, and control solutions that transform electrical power into various usable forms. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF matching networks and remote plasma sources for reactive gas applications and RF instrumentation.

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Analyst Recommendations for Advanced Energy Industries (NASDAQ:AEIS)

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