IES (NASDAQ:IESC) Upgraded to Buy at Freedom Broker

IES (NASDAQ:IESC) was upgraded by investment analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, September 11th, MarketBeat Ratings reports. The firm currently has a $440.00 target price on the technology company’s stock. Freedom Broker’s price target suggests a potential upside of 36.58% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings cut IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Two investment 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, IES presently has an average rating of “Moderate Buy” and an average target price of $334.50.

IES Stock Performance

Shares of NASDAQ:IESC traded down $1.96 during mid-day trading on Friday, reaching $322.17. 69,093 shares of the company’s stock were exchanged, compared to its average volume of 421,167. The business’s fifty day moving average price is $269.02 and its 200-day moving average price is $193.65. IES has a twelve month low of $170.07 and a twelve month high of $408.26. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 28.65 and a beta of 1.78.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Optiver Holding B.V. boosted its position in IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock worth $25,000 after acquiring an additional 20 shares during the last quarter. Allworth Financial LP purchased a new position in shares of IES in the 2nd quarter valued at about $25,000. Toth Financial Advisory Corp boosted its stake in IES by 73.9% in the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock valued at $29,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC boosted 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 purchasing an additional 34 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in IES in the 4th quarter valued at $38,000. 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.