Infrastructure and Energy Alternatives (NASDAQ:IEA) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a buy rating to a hold rating in a report released on Wednesday morning, 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. “

Shares of IEA traded up $0.14 during mid-day trading on Wednesday, reaching $3.60. 900 shares of the company’s stock were exchanged, compared to its average volume of 20,709. The business’s fifty day simple moving average is $3.41 and its 200-day simple moving average is $3.23. The stock has a market capitalization of $80.99 million, a PE ratio of -4.57 and a beta of 0.18. Infrastructure and Energy Alternatives has a 52-week low of $1.81 and a 52-week high of $9.00.

Infrastructure and Energy Alternatives (NASDAQ:IEA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.15). Infrastructure and Energy Alternatives had a net margin of 0.57% and a negative return on equity of 15.21%. The business had revenue of $422.02 million during the quarter, compared to analysts’ expectations of $350.00 million. As a group, equities analysts forecast that Infrastructure and Energy Alternatives will post -0.45 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. United Capital Financial Advisers LLC increased its stake in Infrastructure and Energy Alternatives by 152.2% in the 2nd quarter. United Capital Financial Advisers LLC now owns 116,000 shares of the company’s stock valued at $237,000 after buying an additional 70,000 shares during the period. Paloma Partners Management Co purchased a new position in Infrastructure and Energy Alternatives during the second quarter worth about $141,000. Jane Street Group LLC purchased a new position in Infrastructure and Energy Alternatives during the second quarter worth about $138,000. Crow Point Partners LLC acquired a new stake in Infrastructure and Energy Alternatives in the third quarter valued at about $104,000. Finally, Oaktree Capital Management LP acquired a new stake in Infrastructure and Energy Alternatives in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 13.81% of the company’s stock.

About Infrastructure and Energy Alternatives

Infrastructure and Energy Alternatives, Inc, a diversified infrastructure construction company, provides engineering, procurement, and construction services for the renewable energy, traditional power, and civil infrastructure industries in the United States. It offers design, site development, construction, installation, and restoration of infrastructure services.

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