IES (NASDAQ:IESC) Shares Down 11.6% – Should You Sell?

by · The Markets Daily

IES Holdings, Inc. (NASDAQ:IESC – Get Free Report)’s stock price traded down 11.6% during mid-day trading on Wednesday. The company traded as low as $180.90 and last traded at $179.8460. Approximately 145,601 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 418,428 shares. The stock had previously closed at $203.38.

Analyst Upgrades and Downgrades

IESC has been the topic of several recent analyst reports. Weiss Ratings downgraded IES from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 price target for the company in a report on Friday, September 11th. Finally, Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 20th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $334.50.

View Our Latest Stock Analysis on IES

IES Trading Down 14.3%

The stock has a market cap of $6.95 billion, a P/E ratio of 15.51 and a beta of 1.86. The business’s fifty day simple moving average is $292.07 and its 200 day simple moving average is $294.18.

Institutional Trading of IES

Several hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. boosted 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 buying an additional 20 shares during the last quarter. Allworth Financial LP bought a new stake in shares of IES during the second quarter worth $25,000. Toth Financial Advisory Corp raised its position in shares of IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after acquiring an additional 17 shares during the last quarter. Parallel Advisors LLC raised 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 acquiring an additional 34 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of IES during the second quarter valued at $40,000. 86.60% of the stock is owned by institutional investors.

About IES

(Get Free Report)

IES Holdings, Inc (NASDAQ: IESC) is a diversified industrial services company that designs, installs and maintains electrical and mechanical systems and related infrastructure. Through its operating businesses, the company serves customers in the data center, communications, residential, commercial, industrial and infrastructure markets.

Its services include electrical contracting, power distribution and control systems, communications infrastructure, structured cabling, automation and controls, and the installation of mechanical and other building systems.

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