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

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Zacks Investment Research upgraded shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a strong sell rating to a hold rating in a report published on Tuesday, 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 stock opened at $2.38 on Tuesday. Infrastructure and Energy Alternatives has a 12-month low of $1.81 and a 12-month high of $11.27. The stock has a market cap of $55.41 million, a price-to-earnings ratio of -2.98 and a beta of 0.39. The business’s 50 day moving average is $2.62.

Infrastructure and Energy Alternatives (NASDAQ:IEA) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.67). Infrastructure and Energy Alternatives had a negative net margin of 0.14% and a negative return on equity of 11.34%. The business had revenue of $190.81 million during the quarter, compared to analysts’ expectations of $144.30 million. Equities research analysts expect that Infrastructure and Energy Alternatives will post -0.14 EPS for the current year.

In related news, CFO Andrew Dean Layman acquired 14,900 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $3.51 per share, with a total value of $52,299.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

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.

Further Reading: How to use beta for portfolio diversification

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