BidaskClub Upgrades IES (NASDAQ:IESC) to “Buy”

IES (NASDAQ:IESC) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, BidAskClub reports.

IESC traded up $0.05 during midday trading on Wednesday, hitting $25.11. 715 shares of the company were exchanged, compared to its average volume of 23,425. The company’s 50 day simple moving average is $21.06 and its 200 day simple moving average is $19.54. The firm has a market capitalization of $518.16 million, a price-to-earnings ratio of 13.61 and a beta of 0.58. IES has a 1-year low of $14.61 and a 1-year high of $27.20.

IES (NASDAQ:IESC) last announced its quarterly earnings results on Friday, December 6th. The technology company reported $0.58 earnings per share for the quarter. The company had revenue of $293.60 million for the quarter. IES had a return on equity of 16.40% and a net margin of 3.09%.

Several hedge funds have recently bought and sold shares of IESC. Strs Ohio boosted its stake in shares of IES by 7.5% during the 2nd quarter. Strs Ohio now owns 21,500 shares of the technology company’s stock worth $405,000 after acquiring an additional 1,491 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of IES by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,238 shares of the technology company’s stock worth $607,000 after acquiring an additional 3,153 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of IES by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 275,532 shares of the technology company’s stock worth $5,194,000 after acquiring an additional 21,914 shares in the last quarter. Northern Trust Corp boosted its stake in shares of IES by 2.7% during the 2nd quarter. Northern Trust Corp now owns 95,149 shares of the technology company’s stock worth $1,793,000 after acquiring an additional 2,492 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of IES by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 376,190 shares of the technology company’s stock worth $7,091,000 after acquiring an additional 4,546 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

About IES

IES Holdings, Inc engages in communications, commercial and industrial, infrastructure solutions, and residential businesses in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities.

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