IES (NASDAQ:IESC) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded IES from “strong buy” to “buy,” while analysts overall maintain a “Moderate Buy” consensus with a $277.25 average price target.
• IES shares were trading at $345.71, up 8.2%, with a market capitalization of $13.78 billion and a 12-month range of $170.07 to $408.26.
• The company exceeded quarterly expectations, reporting $1.68 EPS versus the $1.21 consensus and revenue of $1.24 billion versus estimates of $1.08 billion; institutional investors own 86.6% of its stock.

IES (NASDAQ:IESC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on IESC. Freedom Broker upgraded IES from a "hold" rating to a "buy" rating and set a $440.00 price objective for the company in a report on Friday. Weiss Ratings cut IES from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $277.25.

IES Trading Up 8.2%

IESC opened at $345.71 on Friday. The stock has a market capitalization of $13.78 billion, a P/E ratio of 30.72 and a beta of 1.78. IES has a 12 month low of $170.07 and a 12 month high of $408.26. The firm's fifty day simple moving average is $236.14 and its 200 day simple moving average is $179.20.

IES (NASDAQ:IESC - Get Free Report) last released 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. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Hedge Funds Weigh In On IES

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IES by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company's stock valued at $810,000 after acquiring an additional 223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in IES by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company's stock valued at $3,762,000 after purchasing an additional 1,435 shares in the last quarter. Prudential Financial Inc. bought a new position in IES in the second quarter valued at approximately $365,000. Quantbot Technologies LP acquired a new position in shares of IES during the 2nd quarter worth approximately $89,000. Finally, Invesco Ltd. increased its position in shares of IES by 43.7% during the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company's stock worth $27,125,000 after purchasing an additional 27,849 shares during the last quarter. Institutional investors own 86.60% of the company's stock.

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.

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