IES (NASDAQ:IESC) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Shares of IES Holdings, Inc. (NASDAQ:IESC) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $315.53 and traded as high as $327.64. IES shares last traded at $322.09, with a volume of 145,707 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on IESC. Weiss Ratings upgraded shares of IES from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Freedom Broker upgraded shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price target for the company in a report on Friday, September 11th. Finally, Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $334.50.

IES Price Performance

The business has a 50-day moving average of $334.44 and a two-hundred day moving average of $316.23. The company has a market cap of $12.85 billion, a P/E ratio of 28.66 and a beta of 1.78.

IES (NASDAQ:IESC) last announced its earnings results on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.93. IES had a net margin of 11.40% and a return on equity of 35.70%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Institutional Investors Weigh In On IES

Hedge funds and other institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. grew 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 worth $25,000 after purchasing an additional 20 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of IES in the 2nd quarter worth $25,000. Toth Financial Advisory Corp grew its stake in IES by 73.9% during the 2nd 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 stake in 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in IES during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a diversified provider of electrical and technology systems, infrastructure solutions, and related services. The company designs, installs, and maintains electrical, mechanical, plumbing, and HVAC systems for data centers, commercial and industrial facilities, residential developments, and other specialized applications.

IES Holdings operates through several business areas, including Communications, Residential, Infrastructure Solutions, and Commercial & Industrial.