TD Cowen Forecasts Strong Price Appreciation for Advanced Energy Industries (NASDAQ:AEIS) Stock

Key Points

• TD Cowen raised the price target for Advanced Energy Industries (NASDAQ:AEIS) from $118.00 to $140.00, indicating a potential upside of 0.30% from the previous close.
• The company reported a strong quarterly performance with earnings per share of $1.50, exceeding analysts' expectations and showing a 21% year-over-year revenue increase.
• Advanced Energy Industries received various upgrades from brokerages, with multiple ratings shifting towards buy or even strong buy, solidifying a consensus rating of "Moderate Buy."

Advanced Energy Industries (NASDAQ:AEIS - Free Report) had its price target boosted by TD Cowen from $118.00 to $140.00 in a report published on Wednesday, MarketBeat.com reports. They currently have a hold rating on the electronics maker's stock.

A number of other analysts also recently commented on AEIS. Needham & Company LLC dropped their target price on shares of Advanced Energy Industries from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup lifted their target price on shares of Advanced Energy Industries from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wall Street Zen raised shares of Advanced Energy Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Stifel Nicolaus set a $150.00 price objective on shares of Advanced Energy Industries and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Advanced Energy Industries from $110.00 to $130.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Advanced Energy Industries has an average rating of "Moderate Buy" and an average target price of $138.90.

Advanced Energy Industries Price Performance

Shares of NASDAQ AEIS traded up $4.32 during midday trading on Wednesday, reaching $150.82. The company's stock had a trading volume of 470,329 shares, compared to its average volume of 389,263. The company has a current ratio of 4.09, a quick ratio of 3.28 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $134.74 and a 200 day moving average price of $116.84. Advanced Energy Industries has a one year low of $75.01 and a one year high of $152.23. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 68.24, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52.

Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last released its earnings results on Tuesday, August 5th. The electronics maker reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.22. Advanced Energy Industries had a net margin of 5.13% and a return on equity of 12.38%. The business had revenue of $441.50 million for the quarter, compared to the consensus estimate of $421.32 million. During the same period in the previous year, the firm earned $0.85 EPS. The business's revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts expect that Advanced Energy Industries will post 3.66 EPS for the current year.

Advanced Energy Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 25th will be paid a $0.10 dividend. The ex-dividend date is Monday, August 25th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. Advanced Energy Industries's payout ratio is 18.10%.

Insider Buying and Selling

In other Advanced Energy Industries news, EVP Paul R. Oldham sold 1,173 shares of Advanced Energy Industries stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $131.29, for a total value of $154,003.17. Following the completion of the sale, the executive vice president directly owned 31,006 shares in the company, valued at $4,070,777.74. The trade was a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Donaghey sold 2,000 shares of Advanced Energy Industries stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the sale, the executive vice president owned 11,029 shares of the company's stock, valued at $1,544,060. This trade represents a 15.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Trading of Advanced Energy Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Advanced Energy Industries by 9.4% in the first quarter. Sequoia Financial Advisors LLC now owns 2,169 shares of the electronics maker's stock worth $207,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Advanced Energy Industries by 65.1% in the first quarter. GAMMA Investing LLC now owns 2,032 shares of the electronics maker's stock worth $194,000 after buying an additional 801 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Advanced Energy Industries in the first quarter worth $914,000. Vontobel Holding Ltd. lifted its stake in shares of Advanced Energy Industries by 13.9% in the first quarter. Vontobel Holding Ltd. now owns 6,372 shares of the electronics maker's stock worth $607,000 after buying an additional 780 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Advanced Energy Industries by 6.7% in the first quarter. QRG Capital Management Inc. now owns 5,622 shares of the electronics maker's stock worth $536,000 after buying an additional 355 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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.