IES (NASDAQ:IESC) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of IES (NASDAQ:IESC) from a buy rating to a strong-buy rating in a research report released on Sunday,Wall Street Zen reports.

Several other brokerages also recently commented on IESC. Weiss Ratings downgraded shares of IES from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 1st. Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price target on the stock in a report on Friday, September 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.25.

IES Price Performance

IESC stock opened at $322.16 on Friday. The stock has a 50-day simple moving average of $252.21 and a two-hundred day simple moving average of $186.36. IES has a twelve month low of $170.07 and a twelve month high of $408.26. The firm has a market capitalization of $12.84 billion, a PE ratio of 28.62 and a beta of 1.78.

IES (NASDAQ:IESC) last announced its quarterly 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. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.08 billion. IES had a net margin of 11.40% and a return on equity of 35.70%.

Institutional Investors Weigh In On IES

Several hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new position in IES in the 2nd quarter worth approximately $319,000. Integrated Wealth Concepts LLC purchased a new stake in shares of IES during the 2nd quarter valued at $161,000. NewEdge Advisors LLC purchased a new stake in shares of IES during the 2nd quarter valued at $1,191,000. Nykredit A S bought a new stake in shares of IES during the 2nd quarter worth $243,000. Finally, HighTower Advisors LLC lifted its holdings in shares of IES by 137.4% during the 2nd quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company’s stock worth $956,000 after acquiring an additional 753 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors.

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.