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

IES (NASDAQ:IESC) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday, September 20th, Wall Street Zen reports.

IESC has been the subject of several other research reports. Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price target for the company in a research report on Friday, September 11th. Weiss Ratings downgraded shares of 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $334.50.

IES Price Performance

Shares of IES stock traded down $1.96 during trading hours on Friday, hitting $322.17. 69,093 shares of the company’s stock traded hands, compared to its average volume of 421,167. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 28.65 and a beta of 1.78. The company has a fifty day simple moving average of $269.02 and a 200-day simple moving average of $193.65. IES has a 12-month low of $170.07 and a 12-month high of $408.26.

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

Institutional Investors Weigh In On IES

Several large investors have recently bought and sold shares of IESC. BlackRock Inc. acquired a new stake in shares of IES during the second quarter worth about $649,086,000. Norges Bank acquired a new stake in IES in the 4th quarter valued at about $40,578,000. First Trust Advisors LP lifted its holdings in IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after purchasing an additional 100,425 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in IES during the second quarter worth approximately $37,385,000. Finally, Parsifal Capital Management LP acquired a new stake in IES in the 2nd quarter valued at $35,977,035,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

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.