Infrastructure and Energy Alternatives (IEA) Receives New Coverage from Analysts at DA Davidson

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DA Davidson initiated coverage on shares of Infrastructure and Energy Alternatives (NYSE:IEA) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $10.50 price objective on the stock.

Separately, Zacks Investment Research lowered shares of Infrastructure and Energy Alternatives from a buy rating to a hold rating in a research note on Thursday, July 12th.

Shares of NYSE IEA opened at $9.45 on Thursday. 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 issued its quarterly earnings results on Thursday, August 9th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.19). The firm had revenue of $174.07 million for the quarter, compared to analysts’ expectations of $169.93 million.

A number of hedge funds have recently made changes to their positions in IEA. Meeder Asset Management Inc. boosted its holdings in Infrastructure and Energy Alternatives by 17,744.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 18,380 shares of the company’s stock worth $193,000 after acquiring an additional 18,277 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Infrastructure and Energy Alternatives by 54.3% during the 3rd quarter. Acadian Asset Management LLC now owns 80,012 shares of the company’s stock worth $842,000 after acquiring an additional 28,170 shares during the last quarter. Northern Trust Corp purchased a new position in Infrastructure and Energy Alternatives during the 2nd quarter worth $1,376,000. Bank of New York Mellon Corp purchased a new position in Infrastructure and Energy Alternatives during the 2nd quarter worth $394,000. Finally, Bank of America Corp DE purchased a new position in Infrastructure and Energy Alternatives during the 2nd quarter worth $282,000.

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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