Wall Street Zen Downgrades IES (NASDAQ:IESC) to Buy

IES (NASDAQ:IESC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday, September 12th, Wall Street Zen reports.

Several other equities research analysts also recently commented on the company. 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, September 11th. Weiss Ratings cut IES from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $334.50.

IES Price Performance

Shares of NASDAQ IESC traded down $1.96 during mid-day trading on Friday, reaching $322.17. 69,093 shares of the company's stock traded hands, compared to its average volume of 421,167. IES has a 1-year low of $170.07 and a 1-year high of $408.26. The stock has a market cap of $12.84 billion, a P/E ratio of 28.65 and a beta of 1.78. The business has a 50-day simple moving average of $269.02 and a 200 day simple moving average of $193.65.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The technology company reported $3.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.93. 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of IES in the 2nd quarter valued at approximately $649,086,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of IES by 324,337.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company's stock worth $46,699,000 after purchasing an additional 120,005 shares during the last quarter. Norges Bank purchased a new position in shares of IES in the 4th quarter worth $40,578,000. First Trust Advisors LP raised its holdings in shares of IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company's stock valued at $166,366,000 after buying an additional 100,425 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in IES in the 2nd quarter valued at about $37,385,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.