BidaskClub Upgrades IES (IESC) to “Buy”
IES (NASDAQ:IESC) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
IES (NASDAQ:IESC) traded up $0.05 on Thursday, reaching $17.50. 111,101 shares of the company’s stock traded hands, compared to its average volume of 47,025. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $372.33, a P/E ratio of 22.37 and a beta of 0.68. IES has a fifty-two week low of $14.05 and a fifty-two week high of $21.95.
A number of institutional investors and hedge funds have recently bought and sold shares of IESC. Bridge City Capital LLC purchased a new position in IES during the second quarter valued at $1,105,000. Boston Partners purchased a new position in shares of IES in the second quarter worth about $1,028,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of IES in the second quarter worth about $686,000. IndexIQ Advisors LLC purchased a new position in shares of IES in the second quarter worth about $475,000. Finally, State Street Corp lifted its stake in shares of IES by 20.0% in the second quarter. State Street Corp now owns 128,224 shares of the technology company’s stock worth $2,327,000 after buying an additional 21,407 shares in the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.
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IES Holdings, Inc, formerly Integrated Electrical Services, Inc, is a holding company that owns and manages diverse operating subsidiaries across a range of infrastructure-related end markets. The Company operates through four segments: Communications, Residential, Commercial & Industrial, and Infrastructure Solutions.
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