Zacks Investment Research lowered shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a hold rating to a sell rating in a research report sent to investors on Thursday 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. “
Separately, ValuEngine raised shares of Infrastructure and Energy Alternatives from a hold rating to a buy rating in a report on Thursday, August 1st.
Infrastructure and Energy Alternatives (NASDAQ:IEA) last announced its earnings results on Wednesday, August 14th. The company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.63). The company had revenue of $327.96 million during the quarter, compared to the consensus estimate of $330.00 million. As a group, sell-side analysts expect that Infrastructure and Energy Alternatives will post -0.55 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of IEA. United Capital Financial Advisers LLC increased its holdings in Infrastructure and Energy Alternatives by 152.2% during the second 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 in the second quarter worth $141,000. Jane Street Group LLC purchased a new position in Infrastructure and Energy Alternatives in the second quarter worth $138,000. Oaktree Capital Management LP purchased a new position in Infrastructure and Energy Alternatives in the second quarter worth $39,000. Finally, Perritt Capital Management Inc. grew its holdings in Infrastructure and Energy Alternatives by 2.8% in the second quarter. Perritt Capital Management Inc. now owns 329,409 shares of the company’s stock worth $672,000 after purchasing an additional 9,000 shares during the last quarter. 17.85% of the stock is currently owned by institutional investors.
Infrastructure and Energy Alternatives Company Profile
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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