IES (NASDAQ:IESC) Share Price Breaks Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• IES Holdings shares crossed above their 200-day moving average, reaching $327.64 before last trading at $322.09, compared with the $315.53 average.
• Analyst sentiment is positive: recent ratings upgrades helped produce a consensus “Moderate Buy” rating and an average price target of $334.50.
• The company exceeded quarterly expectations, reporting $3.35 in earnings per share versus a $2.42 estimate and revenue of $1.24 billion versus $1.08 billion expected.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $315.53 and traded as high as $327.64. IES shares last traded at $322.09, with a volume of 145,707 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IESC. Freedom Broker upgraded IES from a "hold" rating to a "buy" rating and set a $440.00 price target on the stock in a research report on Friday, September 11th. Weiss Ratings upgraded IES from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 21st. Finally, Wall Street Zen raised IES from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $334.50.

IES Price Performance

The stock has a market capitalization of $12.84 billion, a P/E ratio of 28.62 and a beta of 1.78. The stock's fifty day moving average is $334.17 and its two-hundred day moving average is $315.53.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The technology company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.93. IES had a return on equity of 35.70% and a net margin of 11.40%.The company 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 have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in IES in the 2nd quarter worth about $25,000. Toth Financial Advisory Corp lifted its stake in IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company's stock valued at $29,000 after buying an additional 17 shares in the last quarter. Optiver Holding B.V. boosted its holdings in shares of IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock worth $25,000 after buying an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of IES in the second quarter worth about $40,000. Finally, Parallel Advisors LLC boosted its holdings in shares of IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock worth $30,000 after buying an additional 34 shares during the period. 86.60% of the stock is owned by hedge funds and other 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.

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