IES (NASDAQ:IESC) Stock Price Up 6.2% on Analyst Upgrade

Key Points

• IES Holdings shares rose 6.2% after Freedom Broker upgraded the stock from Hold to Buy and set a $440 price target. Shares reached $340.70, though trading volume was 93% below the average.
• Analyst sentiment remains positive overall, with IES carrying a MarketBeat consensus rating of “Moderate Buy” and an average price target of $277.25.
• IES recently exceeded quarterly expectations, reporting $1.68 in earnings per share versus the $1.21 consensus and revenue of $1.24 billion against estimates of $1.08 billion; institutional investors own 86.6% of the stock.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s share price shot up 6.2% during mid-day trading on Friday after Freedom Broker upgraded the stock from a hold rating to a buy rating. Freedom Broker now has a $440.00 price target on the stock. IES traded as high as $340.70 and last traded at $339.2360. 31,442 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 431,310 shares. The stock had previously closed at $319.52.

A number of other analysts have also recently weighed in on IESC. Weiss Ratings cut shares of IES from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Wall Street Zen raised IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, IES has an average rating of "Moderate Buy" and an average target price of $277.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IESC. Optiver Holding B.V. raised its position in IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of IES in the second quarter valued at $25,000. Toth Financial Advisory Corp raised its holdings in shares of IES by 73.9% in 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 during the last quarter. Parallel Advisors LLC raised 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 valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in IES during the 4th quarter worth about $38,000. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Stock Performance

The company's 50-day moving average is $232.50 and its 200-day moving average is $178.03. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 30.22 and a beta of 1.78.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The technology company reported $1.68 earnings per share for the quarter, beating 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 firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.08 billion.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.