IES (NASDAQ:IESC) Hits New 1-Year Low – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares hit a new 52-week low on Thursday. The company traded as low as $164.00 and last traded at $159.5930, with a volume of 9,995 shares trading hands. The stock had previously closed at $169.07.

Analyst Ratings Changes

IESC has been the subject of a number of recent analyst 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 note on Friday, September 11th. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 20th. Finally, Weiss Ratings lowered shares of IES from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, IES currently has a consensus rating of “Hold” and a consensus target price of $334.50.

IES Trading Up 8.8%

The stock has a market cap of $6.31 billion, a P/E ratio of 14.08 and a beta of 1.86. The company has a 50-day moving average price of $281.96 and a two-hundred day moving average price of $293.27.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Parsifal Capital Management LP bought a new stake in IES in the second quarter valued at approximately $35,977,035,000. BlackRock Inc. acquired a new position in IES during the 2nd quarter valued at approximately $649,086,000. JB Capital Partners LP acquired a new position in shares of IES during the 2nd quarter valued at about $617,849,000. First Trust Advisors LP increased its stake in IES by 40.4% in the first 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 during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in IES during the second quarter worth about $37,385,000. 86.60% of the stock is currently owned by institutional investors.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a diversified industrial services company that designs, installs and maintains electrical and mechanical systems and related infrastructure. Through its operating businesses, the company serves customers in the data center, communications, residential, commercial, industrial and infrastructure markets.

Its services include electrical contracting, power distribution and control systems, communications infrastructure, structured cabling, automation and controls, and the installation of mechanical and other building systems.