IES (NASDAQ:IESC) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

IESC has been the subject of a number of other reports. Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price objective for the company in a research note on Friday. Weiss Ratings downgraded shares of IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, IES presently has an average rating of “Moderate Buy” and an average target price of $277.25.

IES Stock Performance

Shares of NASDAQ:IESC opened at $319.55 on Friday. The company has a market capitalization of $12.73 billion, a PE ratio of 28.39 and a beta of 1.78. The stock has a fifty day moving average of $239.18 and a 200-day moving average of $180.92. IES has a one year low of $170.07 and a one year high of $408.26.

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

Institutional Investors Weigh In On IES

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP purchased a new stake in shares of IES during the second quarter worth $25,000. Toth Financial Advisory Corp grew 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 purchasing an additional 17 shares in the last quarter. Optiver Holding B.V. increased its position in IES by 62.5% in the 1st 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 last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of IES during the 2nd quarter worth about $40,000. Finally, Parallel Advisors LLC raised its stake in shares of 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 in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

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.