IES (NASDAQ:IESC) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday morning.

Several other research firms have also issued reports on IESC. Loop Capital set a $458.00 price target on shares of IES in a research report on Tuesday, February 3rd. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES Price Performance

Shares of IESC stock opened at $666.70 on Friday. IES has a 12 month low of $235.99 and a 12 month high of $688.51. The firm has a market cap of $13.29 billion, a PE ratio of 35.56 and a beta of 1.81. The stock has a 50 day moving average of $511.80 and a 200-day moving average of $456.24.

IES (NASDAQ:IESC) last announced its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The business had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Insider Activity

In other news, Chairman Jeffrey L. Et Al Gendell sold 40,103 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $677.19, for a total value of $27,157,350.57. Following the transaction, the chairman directly owned 10,547,058 shares of the company’s stock, valued at $7,142,362,207.02. The trade was a 0.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total value of $4,607,680.00. Following the sale, the chief executive officer owned 86,575 shares in the company, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 87,315 shares of company stock worth $55,468,083. Insiders own 56.43% of the company’s stock.

Institutional Trading of IES

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of 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 buying an additional 34 shares during the last quarter. Global Retirement Partners LLC grew its holdings in IES by 1,014.3% during the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in IES in the 4th quarter valued at about $38,000. Steward Partners Investment Advisory LLC increased its position in IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after acquiring an additional 77 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of IES by 157.9% in the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

IES News Roundup

Here are the key news stories impacting IES this week:

• Positive Sentiment: IES reported quarterly earnings of $4.16 per share, topping analyst estimates of $3.95 and reinforcing the company’s strong profitability profile. Revenue came in below expectations, but the earnings beat may still support the stock’s higher valuation. IES earnings and stock page
• Neutral Sentiment: Wall Street Zen recently upgraded IESC from “buy” to “strong-buy,” while Freedom Capital downgraded the stock from “strong-buy” to “hold.” The mixed analyst signals suggest some disagreement about how much upside remains after the stock’s sharp run. Article on Freedom Capital downgrade
• Negative Sentiment: CEO Matthew Simmes sold 7,000 shares, and Director Todd M. Cleveland sold 11,578 shares plus an additional 922 shares in separate transactions. Large insider sales can raise concern that executives and directors see less near-term upside at current levels. Insider selling alert
• Negative Sentiment: Chairman Jeffrey L. Et Al Gendell also sold 40,103 shares and then another 7,052 shares, adding to the negative sentiment around insider activity. Although the sales were small relative to his overall stake, the pace of selling may weigh on investor confidence. SEC filing

About IES

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.