IES (NASDAQ:IESC) Shares Gap Up – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares gapped up prior to trading on Wednesday. The stock had previously closed at $172.43, but opened at $186.93. IES shares last traded at $177.0250, with a volume of 31,987 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IESC. Weiss Ratings lowered IES from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 target price for the company in a report on Friday, September 11th. Finally, Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, IES has an average rating of “Hold” and a consensus price target of $334.50.

IES Trading Up 3.6%

The stock’s 50-day simple moving average is $276.63 and its 200-day simple moving average is $292.68. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 15.84 and a beta of 1.87.

Institutional Investors Weigh In On IES

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. raised its holdings in IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after acquiring an additional 20 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of IES during the 2nd quarter worth approximately $25,000. Toth Financial Advisory Corp boosted its position in shares of IES by 73.9% during the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC increased its stake in 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 acquiring an additional 34 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in IES in the second quarter valued at approximately $40,000. 86.60% of the stock is currently owned by institutional investors.

About IES

IES Holdings, Inc. is a provider of electrical and technology services through its operating subsidiaries. The company serves customers across the United States in markets that include commercial construction, data centers, communications, residential building, and industrial facilities. Its businesses design, install, and maintain electrical systems and technology infrastructure. Services include structured cabling, network and wireless systems, security and audiovisual installations, and electrical work for residential, commercial, and industrial projects.