Advanced Energy Industries (AEIS) is Initiated by Citigroup to Neutral, Price Target at $50

Advanced Energy Industries (AEIS) was Initiated by Citigroup to “Neutral” and the brokerage firm has set the Price Target at $50. Citigroup advised their investors in a research report released on Oct 12, 2016.

Many Wall Street Analysts have commented on Advanced Energy Industries. Company shares were Reiterated by Dougherty & Company on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .

On the company’s financial health, Advanced Energy Industries reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.67. The company had revenue of $118.80 million for the quarter, compared to analysts expectations of $111.52 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Advanced Energy Industries closed down -0.55 points or -1.15% at $47.45 with 2,72,712 shares getting traded on Tuesday. Post opening the session at $48.03, the shares hit an intraday low of $46.88 and an intraday high of $48.03 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Apr 6, 2016, Thomas O Mcgimpsey (EVP Gen Counsel & Corp Sec) sold 6,247 shares at $34.86 per share price. According to the SEC, on Oct 16, 2015, Frederick Ball (director) sold 2,500 shares at $27.45 per share price. On Feb 19, 2015, Danny C Herron (Executive VP & CFO) sold 7,152 shares at $26.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Advanced Energy Industries Inc. is a provider of highly-engineered mission-critical precision power conversion measurement and control solutions. The Company is engaged in designing manufacturing selling and supporting its power conversion products and solutions that transform power into various usable forms in various applications ranging from manufacturing and industrial processes to instrumentation and test and measurement. It also provides repair and maintenance services for all of its products. The Company is organized into two segments: Precision Power Products (Precision Power) and Inverters. The Precision Power segment serves OEMs and end customers in the semiconductor flat panel display solar panel and other industrial capital equipment markets. The Inverters segment focuses on commercial and utility-scale solar projects and installations selling primarily to distributors Engineering Procurement and Construction contractors (EPCs) developers and utility companies.

Advanced Energy Industries

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