The Algert Global LLC Acquires New Stake in Advanced Energy Industries Inc. (AEIS)

The Algert Global LLC Acquires New Stake in Advanced Energy Industries Inc. (AEIS)

Algert Global LLC bought a new stake in Advanced Energy Industries Inc. (NASDAQ:AEIS) during the third quarter, Holdings Channel reports. The institutional investor bought 33,995 shares of the company’s stock, valued at approximately $1,609,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiera Capital Corp acquired a new stake in shares of Advanced Energy Industries during the second quarter valued at about $25,431,000. Vanguard Group Inc. boosted its stake in shares of Advanced Energy Industries by 13.0% in the second quarter. Vanguard Group Inc. now owns 3,539,457 shares of the company’s stock valued at $134,358,000 after buying an additional 406,306 shares in the last quarter. Credit Agricole S A boosted its stake in shares of Advanced Energy Industries by 746.2% in the first quarter. Credit Agricole S A now owns 330,000 shares of the company’s stock valued at $11,481,000 after buying an additional 291,000 shares in the last quarter. Columbus Circle Investors boosted its stake in shares of Advanced Energy Industries by 60.1% in the second quarter. Columbus Circle Investors now owns 653,455 shares of the company’s stock valued at $24,805,000 after buying an additional 245,241 shares in the last quarter. Finally, Numeric Investors LLC boosted its stake in shares of Advanced Energy Industries by 26.0% in the second quarter. Numeric Investors LLC now owns 953,449 shares of the company’s stock valued at $36,193,000 after buying an additional 196,700 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Advanced Energy Industries Inc. (NASDAQ:AEIS) opened at 47.80 on Thursday. The firm has a 50-day moving average of $45.82 and a 200-day moving average of $39.49. Advanced Energy Industries Inc. has a 52 week low of $24.25 and a 52 week high of $48.59. The company has a market capitalization of $1.90 billion, a P/E ratio of 18.32 and a beta of 0.89.

Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Monday, August 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a net margin of 24.01% and a return on equity of 28.45%. The business had revenue of $118.80 million for the quarter, compared to analyst estimates of $111.52 million. During the same quarter last year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Advanced Energy Industries Inc. will post $2.73 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. Citigroup Inc. assumed coverage on shares of Advanced Energy Industries in a research report on Wednesday. They set a “neutral” rating and a $50.00 target price on the stock. Zacks Investment Research cut shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Dougherty & Co increased their price objective on shares of Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Raymond James Financial Inc. lowered shares of Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.83.

About Advanced Energy Industries

Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.

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