IES (NASDAQ:IESC) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• IES Holdings shares broke above their 200-day moving average, reaching $319.37 and closing at $315.09, up 4.1%. The stock’s 200-day average is $171.00, indicating a substantial recent rally.
• The company reported quarterly results that exceeded expectations, with EPS of $1.68 versus the $1.21 consensus and revenue of $1.24 billion compared with estimates of $1.08 billion.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating, though the average price target of $114.50 is well below the current share price. Insiders own 56.43% of the stock, while institutional investors own 86.60%.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) 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.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Weiss Ratings downgraded IES from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned 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 target price of $114.50.

IES Stock Up 4.1%

The company has a market cap of $12.56 billion, a P/E ratio of 28.00 and a beta of 1.78. The firm's 50-day moving average price is $217.49 and its 200-day moving average price is $171.00.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The technology company reported $1.68 EPS for the quarter, topping 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 the consensus estimate of $1.08 billion.

Insiders Place Their Bets

In related news, Director Todd M. Cleveland sold 20,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $190.47, for a total transaction of $3,809,450.00. Following the sale, the director directly owned 243,496 shares in the company, valued at approximately $46,379,291.86. The trade was a 7.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 186,880 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $189.12, for a total value of $35,342,278.40. Following the sale, the chairman directly owned 41,626,236 shares in the company, valued at $7,872,249,686.73. This trade represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 56.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On IES

Several hedge funds and other institutional investors have recently modified their holdings of IESC. HighTower Advisors LLC increased its position in shares of IES by 137.4% during the second quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company's stock valued at $956,000 after buying an additional 753 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of IES in the second quarter valued at approximately $4,430,000. California State Teachers Retirement System grew its stake in IES by 71,071.5% during the second quarter. California State Teachers Retirement System now owns 7,611,078 shares of the technology company's stock valued at $5,591,555,000 after acquiring an additional 7,600,384 shares in the last quarter. AXQ Capital LP purchased a new position in IES during the second quarter valued at approximately $912,000. Finally, Nykredit A S bought a new stake in IES during the 2nd quarter worth approximately $243,000. 86.60% of the stock is currently owned by institutional investors.

About IES

IES Holdings, Inc NASDAQ: IESC is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.

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