Infrastructure and Energy Alternatives (NASDAQ:IEA) Downgraded by Zacks Investment Research to “Hold”


Share on StockTwits

Zacks Investment Research cut shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a strong-buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Infrastructure and Energy Alternatives is a leading infrastructure construction company with specialized energy and heavy civil expertise. Headquartered in Indianapolis, Indiana, with operations throughout the country, the company offers a full spectrum of delivery models including full engineering, procurement, and construction (EPC), turnkey, design-build, balance of plant (BOP), and subcontracting services. The company one of three Tier 1 wind energy contractors in the U.S. and has completed more than 200 wind and solar projects across North America. “

Several other research analysts also recently commented on IEA. BidaskClub raised Infrastructure and Energy Alternatives from a buy rating to a strong-buy rating in a report on Monday, December 28th. ValuEngine downgraded Infrastructure and Energy Alternatives from a buy rating to a hold rating in a report on Tuesday, December 1st. Finally, DA Davidson boosted their target price on Infrastructure and Energy Alternatives from $6.50 to $13.00 and gave the stock a buy rating in a report on Wednesday, November 11th.

NASDAQ IEA opened at $21.80 on Wednesday. The stock’s 50 day moving average is $15.10 and its two-hundred day moving average is $8.19. The company has a market capitalization of $496.80 million, a price-to-earnings ratio of 363.39 and a beta of 1.78. Infrastructure and Energy Alternatives has a 1-year low of $1.63 and a 1-year high of $24.13.

Infrastructure and Energy Alternatives (NASDAQ:IEA) last released its quarterly earnings data on Monday, November 9th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The company had revenue of $522.23 million for the quarter. Infrastructure and Energy Alternatives had a negative return on equity of 12.99% and a net margin of 0.70%. Equities analysts expect that Infrastructure and Energy Alternatives will post -0.19 EPS for the current year.

In related news, General Counsel Gil Melman sold 9,154 shares of the business’s stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $18.51, for a total value of $169,440.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terence R. Montgomery sold 2,400 shares of the company’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $18.48, for a total transaction of $44,352.00. Following the sale, the director now owns 51,493 shares of the company’s stock, valued at approximately $951,590.64. The disclosure for this sale can be found here. Insiders sold a total of 17,554 shares of company stock valued at $321,073 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Infrastructure and Energy Alternatives during the 3rd quarter valued at $50,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Infrastructure and Energy Alternatives in the 3rd quarter valued at $64,000. GWM Advisors LLC bought a new stake in shares of Infrastructure and Energy Alternatives in the 3rd quarter valued at $83,000. James Investment Research Inc. bought a new stake in shares of Infrastructure and Energy Alternatives in the 3rd quarter valued at $83,000. Finally, Blair William & Co. IL bought a new stake in shares of Infrastructure and Energy Alternatives in the 3rd quarter valued at $137,000. Institutional investors own 11.48% of the company’s stock.

Infrastructure and Energy Alternatives Company Profile

Infrastructure and Energy Alternatives, Inc, through various subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.

Featured Article: What are the most popular ETFs

Get a free copy of the Zacks research report on Infrastructure and Energy Alternatives (IEA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Infrastructure and Energy Alternatives Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infrastructure and Energy Alternatives and related companies with MarketBeat.com's FREE daily email newsletter.