Advanced Energy Industries (NASDAQ:AEIS) Stock Gets Price Target Reduction from Morgan Stanley

Advanced Energy Industries (NASDAQ:AEIS) had its price objective cut by Morgan Stanley from $375.00 to $368.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the electronics maker’s stock.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Advanced Energy Industries in a report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Advanced Energy Industries in a report on Wednesday, August 26th. Wells Fargo & Company cut their price target on Advanced Energy Industries from $360.00 to $310.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Research lowered Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Finally, Seaport Research Partners upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $391.64.

Advanced Energy Industries Price Performance

Shares of NASDAQ:AEIS opened at $185.66 on Tuesday. The company has a market cap of $7.52 billion, a PE ratio of 26.71, a P/E/G ratio of 0.43 and a beta of 1.38. Advanced Energy Industries has a fifty-two week low of $178.37 and a fifty-two week high of $397.44. The firm has a 50-day simple moving average of $261.91 and a 200 day simple moving average of $306.57. The company has a quick ratio of 2.94, a current ratio of 3.62 and a debt-to-equity ratio of 0.71.

Advanced Energy Industries (NASDAQ:AEIS) last issued its earnings results on Monday, November 2nd. The electronics maker reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.61. Advanced Energy Industries had a net margin of 12.72% and a return on equity of 24.95%. The firm had revenue of $696.40 million for the quarter, compared to analysts’ expectations of $644.85 million. During the same quarter last year, the company posted $1.74 earnings per share. Advanced Energy Industries’s revenue was up 50.3% on a year-over-year basis. On average, sell-side analysts anticipate that Advanced Energy Industries will post 9.70 EPS for the current year.

Advanced Energy Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 23rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, November 23rd. Advanced Energy Industries’s dividend payout ratio (DPR) is 5.76%.

Insider Activity

In related news, EVP Elizabeth Vonne sold 632 shares of Advanced Energy Industries stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $288.14, for a total value of $182,104.48. Following the sale, the executive vice president directly owned 9,177 shares in the company, valued at $2,644,260.78. This trade represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Eduardo Acebedo sold 24,771 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $315.48, for a total transaction of $7,814,755.08. Following the transaction, the chief operating officer directly owned 23,109 shares of the company’s stock, valued at $7,290,427.32. The trade was a 51.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 27,218 shares of company stock worth $8,562,008. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Advanced Energy Industries

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

Trending Headlines about 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.