IES (NASDAQ:IESC) Trading 6.2% Higher After Analyst Upgrade

IES Holdings, Inc. (NASDAQ:IESC) shares were up 6.2% during trading on Friday after Freedom Broker upgraded the stock from a hold rating to a buy rating. Freedom Broker now has a $440.00 price target on the stock. IES traded as high as $340.70 and last traded at $339.2360. 31,442 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 431,310 shares. The stock had previously closed at $319.52.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, IES has a consensus rating of “Moderate Buy” and a consensus price target of $277.25.

Institutional Investors Weigh In On IES

A number of institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. increased its holdings in IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Allworth Financial LP bought a new position in IES during the second quarter worth about $25,000. Toth Financial Advisory Corp boosted its holdings in IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after buying an additional 17 shares during the last quarter. Parallel Advisors LLC grew its position in shares of IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after buying an additional 34 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of IES during the 4th quarter worth about $38,000. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Trading Up 6.4%

The company has a market capitalization of $13.55 billion, a P/E ratio of 30.22 and a beta of 1.78. The business has a 50 day moving average price of $232.50 and a 200 day moving average price of $178.03.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, July 31st. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.47. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion. IES had a net margin of 11.40% and a return on equity of 35.70%.

About IES

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.