IES (NASDAQ:IESC) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded IES Holdings from “buy” to “strong-buy,” while broader analyst coverage remains “Moderate Buy” with a consensus price target of $277.25.
• IES reported quarterly EPS of $1.68, surpassing estimates of $1.21, and revenue of $1.24 billion versus expectations of $1.08 billion; net margin was 11.40% and return on equity was 35.70%.
• IES shares opened at $322.16, with a $12.84 billion market capitalization, while institutional investors and hedge funds own 86.60% of the company.

IES (NASDAQ:IESC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday, Wall Street Zen reports.

IESC has been the topic of several other research reports. Weiss Ratings downgraded IES from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. Freedom Broker upgraded IES from a "hold" rating to a "buy" rating and set a $440.00 price objective for the company in a research note on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, IES currently has a consensus rating of "Moderate Buy" and a consensus target price of $277.25.

IES Stock Performance

Shares of IESC stock opened at $322.16 on Friday. IES has a fifty-two week low of $170.07 and a fifty-two week high of $408.26. The company has a 50 day moving average price of $252.21 and a 200 day moving average price of $185.93. The stock has a market capitalization of $12.84 billion, a P/E ratio of 28.62 and a beta of 1.78.

IES (NASDAQ:IESC - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.21 by $0.47. IES had a net margin of 11.40% and a return on equity of 35.70%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.08 billion.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in IES during the 2nd quarter worth $319,000. Integrated Wealth Concepts LLC purchased a new position in shares of IES during the second quarter worth about $161,000. NewEdge Advisors LLC acquired a new stake in shares of IES during the second quarter worth about $1,191,000. Nykredit A S acquired a new stake in shares of IES during the second quarter worth about $243,000. Finally, HighTower Advisors LLC lifted its holdings in shares of IES by 137.4% in the 2nd quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company's stock valued at $956,000 after purchasing an additional 753 shares during the last quarter. Institutional investors and hedge funds 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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