Infrastructure and Energy Alternatives (IEA) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Infrastructure and Energy Alternatives (NYSE:IEA) from a hold rating to a buy rating in a research report released on Thursday. Zacks Investment Research currently has $12.00 price objective on the stock.

According to Zacks, “Infrastructure & Energy Alternatives, LLC is an infrastructure construction company with specialized energy and heavy civil expertise. The company provides an engineering, procurement and construction services supporting the renewable energy, traditional power, petrochemicals and civil infrastructure markets. Infrastructure & Energy Alternatives, LLC is based in Westchester, Illinois. “

IEA stock traded down $0.02 during trading on Thursday, hitting $10.69. 345 shares of the company’s stock traded hands, compared to its average volume of 131,165. Infrastructure and Energy Alternatives has a 52 week low of $8.25 and a 52 week high of $11.27.

Infrastructure and Energy Alternatives (NYSE:IEA) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.19). The business had revenue of $174.07 million for the quarter, compared to analyst estimates of $169.93 million.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers purchased a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at $144,000. Bank of America Corp DE purchased a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at $282,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at $307,000. Royce & Associates LP raised its stake in shares of Infrastructure and Energy Alternatives by 5.6% in the second quarter. Royce & Associates LP now owns 655,000 shares of the company’s stock valued at $6,098,000 after acquiring an additional 35,000 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Infrastructure and Energy Alternatives in the first quarter valued at $313,000.

Infrastructure and Energy Alternatives Company Profile

Infrastructure and Energy Alternatives, Inc, an infrastructure construction company, provides engineering, procurement, construction, and maintenance services. It offers design, site development, construction, installation, and restoration of infrastructure services for the wind, solar, thermal, and biomass/alternative fuel power plants; and highways, bridges, and railroads, as well as provides other industrial services.

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