IES (NASDAQ:IESC) Upgraded at Freedom Broker

Freedom Broker upgraded shares of IES (NASDAQ:IESC) from a hold rating to a buy rating in a report published on Friday, MarketBeat Ratings reports. They currently have $440.00 price target on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings lowered IES from a “buy (b)” rating to a “buy (b-)” rating in a research note 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 company’s stock. According to MarketBeat.com, IES has an average rating of “Moderate Buy” and a consensus price target of $277.25.

IES Price Performance

Shares of IES stock opened at $345.71 on Friday. IES has a twelve month low of $170.07 and a twelve month high of $408.26. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 30.72 and a beta of 1.78. The company’s fifty day moving average is $236.14 and its 200 day moving average is $179.58.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IESC. Sequoia Financial Advisors LLC acquired a new position in shares of IES in the 2nd quarter valued at about $319,000. Integrated Wealth Concepts LLC acquired a new stake in IES during the second quarter worth approximately $161,000. NewEdge Advisors LLC acquired a new stake in IES during the second quarter worth approximately $1,191,000. Nykredit A S bought a new stake in IES in the second quarter worth approximately $243,000. Finally, HighTower Advisors LLC increased its holdings in IES by 137.4% in the second quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company’s stock worth $956,000 after purchasing an additional 753 shares in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

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.