IES (NASDAQ:IESC) Raised to “Strong-Buy” at Wall Street Zen

IES (NASDAQ:IESC) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 target price on the stock in a research note on Friday, September 11th. Weiss Ratings cut IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $277.25.

IES Price Performance

IES stock opened at $321.69 on Friday. The firm’s 50 day simple moving average is $255.63 and its 200-day simple moving average is $187.76. The company has a market cap of $12.82 billion, a P/E ratio of 28.58 and a beta of 1.78. IES has a fifty-two week low of $170.07 and a fifty-two week high of $408.26.

IES (NASDAQ:IESC) last released 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 net margin of 11.40% and a return on equity of 35.70%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC acquired a new position in shares of IES in the second quarter worth $319,000. Integrated Wealth Concepts LLC acquired a new stake in IES during the second quarter valued at $161,000. NewEdge Advisors LLC acquired a new stake in IES during the second quarter valued at $1,191,000. Nykredit A S acquired a new stake in IES during the second quarter valued at $243,000. Finally, HighTower Advisors LLC grew its stake in IES by 137.4% in the second quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company’s stock valued at $956,000 after purchasing an additional 753 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.