TD Cowen Lowers Price Target for Advanced Energy Industries (NASDAQ:AEIS) Stock

On November 2, 2024, it was reported that equities research analysts at TD Cowen have revised their price target for Advanced Energy Industries (NASDAQ:AEIS) from $120.00 down to $118.00. This adjustment was made in a research report released on Thursday, as shared by MarketBeat. Currently, TD Cowen maintains a “hold” rating on the company’s stock, suggesting that investors should consider holding onto their shares rather than buying or selling aggressively. The new price target implies a potential upside of approximately 7.69% based on the stock’s last close price.

In addition to TD Cowen's update, various analysts have recently provided their insights on Advanced Energy Industries. StockNews.com downgraded the stock from a “hold” to a “sell” rating as of September 20. On July 31, Benchmark reaffirmed a “buy” rating and established a price target of $117.00 for the shares. Needham & Company LLC also maintained a “hold” recommendation on the stock on the same date. Furthermore, Susquehanna lowered their target price for Advanced Energy Industries from $103.00 to $92.00, giving it a “neutral” rating in a report dated October 11. Citigroup shifted their stance as well, dropping the stock from a “buy” to a “neutral” rating, setting a new target price at $113.00 as of July 15. Overall, the stock has received one “sell” rating, seven “hold” ratings, three “buy” ratings, and one “strong buy” rating from analysts. According to MarketBeat, Advanced Energy Industries holds an average rating of “Hold” among analyst reviews, with a consensus price target of $112.75.

Advanced Energy Industries Stock Overview

On the morning of November 2, shares of NASDAQ:AEIS opened at $109.57. The company has a 50-day moving average price of $104.05 and a 200-day average price of $104.84. Over the past year, Advanced Energy Industries has seen a low of $85.26 and a high of $119.75. The company boasts a market capitalization of $4.13 billion, a price-to-earnings (P/E) ratio of 96.11, a price-to-earnings-to-growth (PEG) ratio of 5.45, and a beta value of 1.49. Additionally, it 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 reported its quarterly earnings on July 30, where it announced an earnings per share (EPS) of $0.85, surpassing the analyst consensus estimate of $0.71 by $0.14. The company achieved a return on equity of 9.05% and maintained a net profit margin of 2.91%. During this quarter, Advanced Energy Industries generated revenue of $364.95 million, outstripping the market consensus of $350.06 million. However, this represents a decline of 12.2% in revenue compared to the same quarter of the previous year. Analysts forecast that the company is on track to post earnings of approximately $2.47 per share for the current fiscal year.

Institutional Investor Activity

Recent changes in shareholding reflect various movements by institutional investors. For instance, Hilltop National Bank increased its investment in Advanced Energy Industries by 13.4% during the second quarter, now owning 983 shares valued at around $107,000 after acquiring 116 additional shares. Similarly, Azzad Asset Management elevated its stake by 1.7% in the same quarter, bringing its total to 7,322 shares worth approximately $796,000 after purchasing an extra 124 shares. Wealth Enhancement Advisory Services improved its holdings by 5.5% in the third quarter, now owning 2,496 shares valued at about $263,000 due to acquiring 130 shares. Additionally, Pitcairn Co. raised its investment by 3.9% in the first quarter, holding 4,406 shares valued at around $449,000 after buying an additional 164 shares. Furthermore, Arizona State Retirement System increased its ownership by 2.0%, holding a total of 10,449 shares worth approximately $1,136,000 after acquiring 203 shares. The institutional and hedge fund ownership in Advanced Energy Industries is substantial, accounting for 99.67% of the total shares.

About Advanced Energy Industries

Advanced Energy Industries, Inc. specializes in precision power conversion, measurement, and control solutions used in various sectors, both in the domestic market and internationally. The company’s plasma power products are critical for enabling advancements in semiconductor technologies, addressing processes like dry etch and deposition.

Conclusion

The recent evaluation from TD Cowen and other analysts sheds light on the shifting sentiments regarding Advanced Energy Industries' stock. As institutional investors continue to adjust their positions, the overall market outlook for the company remains closely watched by both shareholders and analysts.

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