IES (NASDAQ:IESC) Downgraded by Wall Street Zen to “Buy”

by · The Markets Daily

Wall Street Zen cut shares of IES (NASDAQ:IESC – Free Report) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on IESC. Weiss Ratings lowered shares of IES from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 1st. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 price target on the stock in a report on Friday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.25.

Check Out Our Latest Stock Report on IES

IES Trading Up 8.2%

IES stock opened at $345.71 on Friday. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 30.72 and a beta of 1.78. The stock has a fifty day simple moving average of $236.14 and a two-hundred day simple moving average of $179.20. IES has a 12 month low of $170.07 and a 12 month high of $408.26.

IES (NASDAQ:IESC – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.47. IES had a return on equity of 35.70% and a net margin of 11.40%.The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.08 billion.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of IES by 71,071.5% in the second quarter. California State Teachers Retirement System now owns 7,611,078 shares of the technology company’s stock worth $5,591,555,000 after acquiring an additional 7,600,384 shares during the period. BlackRock Inc. bought a new stake in IES during the 2nd quarter valued at approximately $649,086,000. Northwestern Mutual Wealth Management Co. raised its stake in IES by 324,337.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after purchasing an additional 120,005 shares during the period. Norges Bank purchased a new position in IES in the 4th quarter worth approximately $40,578,000. Finally, First Trust Advisors LP boosted its stake in IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after purchasing an additional 100,425 shares during the period. 86.60% of the stock is currently owned by institutional investors.

About IES

(Get Free Report)

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.

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