IES (NASDAQ:IESC) Shares Climb 6.2% After Analyst Upgrade

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

A number of other analysts also recently issued reports on IESC. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 price objective on the stock in a research note on Friday, September 11th. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $334.50.

Institutional Investors Weigh In On IES

Hedge funds and other institutional investors have recently bought and sold shares of the business. Optiver Holding B.V. increased its holdings in shares of IES by 62.5% in the 1st 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 period. Allworth Financial LP bought a new stake in IES during the 2nd quarter worth about $25,000. Toth Financial Advisory Corp grew its position in shares of 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 period. Parallel Advisors LLC increased its stake in IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of IES in the second quarter valued at about $40,000. 86.60% of the stock is currently owned by institutional investors.

IES Stock Performance

The firm has a fifty day moving average price of $269.02 and a 200 day moving average price of $193.65. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 28.65 and a beta of 1.78.

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

IES Company Profile

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.