Infrastructure and Energy Alternatives (NASDAQ:IEA) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Infrastructure and Energy Alternatives is a leading infrastructure construction company with specialized energy and heavy civil expertise. Headquartered in Indianapolis, Indiana, with operations throughout the country, the company offers a full spectrum of delivery models including full engineering, procurement, and construction (EPC), turnkey, design-build, balance of plant (BOP), and subcontracting services. The company one of three Tier 1 wind energy contractors in the U.S. and has completed more than 200 wind and solar projects across North America. “

IEA has been the topic of several other research reports. DA Davidson raised their price target on Infrastructure and Energy Alternatives from $6.50 to $13.00 and gave the stock a buy rating in a report on Wednesday, November 11th. BidaskClub raised Infrastructure and Energy Alternatives from a buy rating to a strong-buy rating in a report on Monday, December 28th. Finally, ValuEngine cut Infrastructure and Energy Alternatives from a buy rating to a hold rating in a research report on Tuesday, December 1st.

NASDAQ:IEA opened at $21.80 on Wednesday. The business’s 50 day moving average is $15.10 and its two-hundred day moving average is $8.19. Infrastructure and Energy Alternatives has a 52 week low of $1.63 and a 52 week high of $24.13. The company has a market cap of $496.80 million, a PE ratio of 363.39 and a beta of 1.78.

Infrastructure and Energy Alternatives (NASDAQ:IEA) last released its earnings results on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Infrastructure and Energy Alternatives had a negative return on equity of 12.99% and a net margin of 0.70%. The company had revenue of $522.23 million for the quarter. Analysts anticipate that Infrastructure and Energy Alternatives will post -0.19 earnings per share for the current fiscal year.

In other news, Director Terence R. Montgomery sold 6,000 shares of Infrastructure and Energy Alternatives stock in a transaction on Thursday, December 24th. The stock was sold at an average price of $17.88, for a total transaction of $107,280.00. Following the transaction, the director now directly owns 51,493 shares in the company, valued at approximately $920,694.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Gil Melman sold 9,154 shares of Infrastructure and Energy Alternatives stock in a transaction on Monday, December 28th. The shares were sold at an average price of $18.51, for a total value of $169,440.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,554 shares of company stock worth $321,073. 2.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Ardsley Advisory Partners LP boosted its position in shares of Infrastructure and Energy Alternatives by 1,324.7% in the third quarter. Ardsley Advisory Partners LP now owns 1,068,505 shares of the company’s stock worth $6,358,000 after buying an additional 993,505 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Infrastructure and Energy Alternatives in the third quarter worth $458,000. Blair William & Co. IL acquired a new stake in shares of Infrastructure and Energy Alternatives in the third quarter worth $137,000. GWM Advisors LLC acquired a new stake in Infrastructure and Energy Alternatives during the third quarter valued at $83,000. Finally, James Investment Research Inc. acquired a new stake in Infrastructure and Energy Alternatives during the third quarter valued at $83,000. Institutional investors own 11.48% of the company’s stock.

About Infrastructure and Energy Alternatives

Infrastructure and Energy Alternatives, Inc, through various subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.

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