IES (NASDAQ:IESC) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $171.00 and traded as high as $319.37. IES shares last traded at $315.09, with a volume of 370,553 shares changing hands.

Wall Street Analyst Weigh In

IESC has been the subject of several research reports. Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 20th. Weiss Ratings raised shares of IES from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, September 21st. Finally, Freedom Broker upgraded shares of IES from a "hold" rating to a "buy" rating and set a $440.00 price objective on the stock in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, IES has an average rating of "Moderate Buy" and a consensus target price of $334.50.

IES Stock Down 0.7%

The firm has a market cap of $12.82 billion, a P/E ratio of 28.65 and a beta of 1.78. The business's 50 day moving average is $269.02 and its two-hundred day moving average is $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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Institutional Trading of IES

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. boosted its holdings in IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock valued at $25,000 after acquiring an additional 20 shares during the last quarter. Allworth Financial LP purchased a new position in IES in the 2nd quarter worth about $25,000. Toth Financial Advisory Corp grew its holdings in shares of IES by 73.9% during the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company's stock valued at $29,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC boosted its holdings in IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in IES in the second quarter worth $40,000. 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.