Wells Fargo & Company Lowers Advanced Energy Industries (NASDAQ:AEIS) Price Target to $98.00

Advanced Energy Industries (NASDAQ:AEIS) had its price objective lowered by Wells Fargo & Company from $103.00 to $98.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 3.82% from the company’s previous close.

A number of other research firms have also recently issued reports on AEIS. Robert W. Baird assumed coverage on shares of Advanced Energy Industries in a research note on Friday, September 20th. They issued an “outperform” rating and a $128.00 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $117.00 target price on shares of Advanced Energy Industries in a research note on Wednesday, July 31st. Citigroup cut shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $113.00 target price on the stock. in a research note on Monday, July 15th. TD Cowen lifted their target price on shares of Advanced Energy Industries from $100.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus assumed coverage on shares of Advanced Energy Industries in a research note on Thursday, August 15th. They set a “buy” rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.33.

Advanced Energy Industries Stock Performance

Shares of NASDAQ AEIS traded up $0.18 during midday trading on Thursday, reaching $101.89. 79,685 shares of the stock were exchanged, compared to its average volume of 208,394. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 5.12 and a beta of 1.49. Advanced Energy Industries has a twelve month low of $81.86 and a twelve month high of $119.75. The firm has a 50-day simple moving average of $102.87 and a two-hundred day simple moving average of $103.41. The company has a quick ratio of 4.22, a current ratio of 5.47 and a debt-to-equity ratio of 0.76.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.43%. The firm had revenue of $364.95 million for the quarter, compared to analysts’ expectations of $350.06 million. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. As a group, analysts anticipate that Advanced Energy Industries will post 2.47 EPS for the current fiscal year.

Institutional Trading of Advanced Energy Industries

Several institutional investors and hedge funds have recently bought and sold shares of AEIS. UBS Group AG raised its holdings in Advanced Energy Industries by 24.1% in the 4th quarter. UBS Group AG now owns 55,760 shares of the electronics maker’s stock valued at $6,073,000 after buying an additional 10,830 shares during the period. US Bancorp DE increased its stake in Advanced Energy Industries by 24.3% during the fourth quarter. US Bancorp DE now owns 6,405 shares of the electronics maker’s stock worth $698,000 after purchasing an additional 1,254 shares during the period. Orion Portfolio Solutions LLC increased its stake in Advanced Energy Industries by 24.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,557 shares of the electronics maker’s stock worth $471,000 after purchasing an additional 882 shares during the period. Hsbc Holdings PLC increased its stake in Advanced Energy Industries by 281.9% during the fourth quarter. Hsbc Holdings PLC now owns 15,954 shares of the electronics maker’s stock worth $1,738,000 after purchasing an additional 11,776 shares during the period. Finally, Parallel Advisors LLC increased its stake in Advanced Energy Industries by 78.2% during the fourth quarter. Parallel Advisors LLC now owns 351 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 154 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Energy Industries

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.