IES (NASDAQ:IESC) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• IES Holdings was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, indicating increased optimism among analysts.
• In its latest earnings report, IES reported earnings per share (EPS) of $3.95, exceeding analysts' expectations by $0.40 and generating revenue of $890.20 million.
• Institutional investors hold a significant majority of IES stock, with 86.60% of shares owned by these entities, suggesting strong institutional confidence in the company's performance.

IES (NASDAQ:IESC - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

IES Price Performance

Shares of IESC traded down $3.15 during mid-day trading on Friday, hitting $321.59. The company's stock had a trading volume of 136,561 shares, compared to its average volume of 131,590. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $313.65 and a 200 day simple moving average of $245.58. The firm has a market capitalization of $6.38 billion, a P/E ratio of 24.57 and a beta of 1.67. IES has a 1-year low of $140.89 and a 1-year high of $370.88.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.55 by $0.40. IES had a return on equity of 37.23% and a net margin of 8.15%.The business had revenue of $890.20 million during the quarter, compared to analysts' expectations of $833.00 million.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Et Al Gendell sold 27,144 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $275.92, for a total value of $7,489,572.48. Following the completion of the transaction, the chief executive officer directly owned 10,930,040 shares of the company's stock, valued at $3,015,816,636.80. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 41,340 shares of company stock valued at $11,522,915. Company insiders own 56.76% of the company's stock.

Hedge Funds Weigh In On IES

Several hedge funds have recently bought and sold shares of IESC. Wells Fargo & Company MN increased its stake in IES by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 13,174 shares of the technology company's stock valued at $2,647,000 after purchasing an additional 426 shares in the last quarter. Envestnet Asset Management Inc. increased its position in IES by 49.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,452 shares of the technology company's stock worth $493,000 after buying an additional 808 shares in the last quarter. Raymond James Financial Inc. purchased a new position in IES during the fourth quarter worth $2,361,000. Summit Investment Advisors Inc. increased its position in IES by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 861 shares of the technology company's stock worth $173,000 after buying an additional 53 shares in the last quarter. Finally, Barclays PLC increased its position in IES by 14.0% during the fourth quarter. Barclays PLC now owns 17,303 shares of the technology company's stock worth $3,477,000 after buying an additional 2,127 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Company Profile

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.