IES (NASDAQ:IESC) Shares Gap Up – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares gapped up prior to trading on Wednesday. The stock had previously closed at $172.43, but opened at $186.93. IES shares last traded at $177.0250, with a volume of 31,987 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on IESC. Weiss Ratings downgraded IES from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Freedom Broker upgraded shares of IES from a “hold” rating to a “buy” rating and set a $440.00 target price on the stock in a research report on Friday, September 11th. Finally, Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, IES currently has an average rating of “Hold” and an average target price of $334.50.

IES Trading Up 3.6%

The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 15.84 and a beta of 1.87. The firm’s 50-day moving average is $276.63 and its 200 day moving average is $292.68.

Institutional Investors Weigh In On IES

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in IES during the 2nd quarter valued at approximately $25,000. Toth Financial Advisory Corp lifted its position in shares of IES by 73.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after purchasing an additional 17 shares during the period. Optiver Holding B.V. boosted its stake in shares of 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. Northwestern Mutual Wealth Management Co. bought a new stake in shares of IES in the 2nd quarter valued at $40,000. Finally, Parallel Advisors LLC increased its position in shares of IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

About IES

IES Holdings, Inc. is a provider of electrical and technology services through its operating subsidiaries. The company serves customers across the United States in markets that include commercial construction, data centers, communications, residential building, and industrial facilities. Its businesses design, install, and maintain electrical systems and technology infrastructure. Services include structured cabling, network and wireless systems, security and audiovisual installations, and electrical work for residential, commercial, and industrial projects.