IES (NASDAQ:IESC) Upgraded by Freedom Broker to Buy Rating

IES (NASDAQ:IESC) was upgraded by stock analysts at Freedom Broker from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $440.00 price target on the technology company’s stock. Freedom Broker’s price target would indicate a potential upside of 28.98% from the stock’s current price.

A number of other brokerages have also recently issued reports on IESC. Weiss Ratings cut shares of IES from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.25.

IES Stock Up 6.8%

Shares of IES stock traded up $21.63 during trading on Friday, hitting $341.15. 61,146 shares of the stock traded hands, compared to its average volume of 431,497. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 30.29 and a beta of 1.78. The firm’s fifty day moving average is $232.50 and its 200-day moving average is $178.03. IES has a 52 week low of $170.07 and a 52 week high of $408.26.

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

Institutional Trading of IES

A number of institutional investors have recently made changes to their positions in IESC. Toth Financial Advisory Corp lifted its stake in shares of IES by 73.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock valued at $29,000 after purchasing an additional 17 shares during the period. Optiver Holding B.V. grew its stake in IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock worth $25,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC raised its holdings in IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Allworth Financial LP purchased a new position in IES during the second quarter valued at $25,000. Finally, KPP Advisory Services LLC lifted its position in IES by 5.3% during the first quarter. KPP Advisory Services LLC now owns 699 shares of the technology company’s stock valued at $333,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors 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.