IES (NASDAQ:IESC) Stock Falls 6.6% - What's Next?

Key Points

• IES Holdings shares fell 6.6% to about $319.18 in mid-day trading, while trading volume plunged 98% below the average session volume.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and an average price target of $334.50; Freedom Broker raised its target to $440.
• The company recently exceeded quarterly expectations, reporting $3.35 in earnings per share versus a $2.42 consensus estimate and $1.24 billion in revenue versus $1.08 billion expected. Institutional investors own 86.6% of the stock.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) was down 6.6% during mid-day trading on Wednesday. The stock traded as low as $324.00 and last traded at $319.18. 8,123 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 413,107 shares. The stock had previously closed at $341.85.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IESC. Freedom Broker raised IES from a "hold" rating to a "buy" rating and set a $440.00 target price for the company in a research report on Friday, September 11th. Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 20th. Finally, Weiss Ratings raised shares of IES from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, September 21st. Two 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $334.50.

IES Stock Down 10.6%

The stock has a market capitalization of $12.18 billion, a P/E ratio of 27.23 and a beta of 1.77. The company has a 50 day moving average of $335.73 and a 200-day moving average of $320.18.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, July 31st. The technology company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.93. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Institutional Trading of IES

Several large investors have recently added to or reduced their stakes in the company. Argent Capital Management LLC grew its holdings in shares of IES by 86.6% during the third quarter. Argent Capital Management LLC now owns 4,503 shares of the technology company's stock valued at $1,446,000 after buying an additional 2,090 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in IES during the 2nd quarter valued at about $319,000. Integrated Wealth Concepts LLC purchased a new position in IES during the 2nd quarter valued at about $161,000. NewEdge Advisors LLC acquired a new position in shares of IES in the 2nd quarter valued at about $1,191,000. Finally, Nykredit A S purchased a new stake in shares of IES in the second quarter worth approximately $243,000. 86.60% of the stock is owned by institutional investors and hedge funds.

About IES

IES Holdings, Inc NASDAQ: IESC is a diversified provider of electrical and technology systems, infrastructure solutions, and related services. The company designs, installs, and maintains electrical, mechanical, plumbing, and HVAC systems for data centers, commercial and industrial facilities, residential developments, and other specialized applications.

IES Holdings operates through several business areas, including Communications, Residential, Infrastructure Solutions, and Commercial & Industrial.

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