Infrastructure and Energy Alternatives (NASDAQ:IEA) Stock Rating Lowered by Zacks Investment Research

Infrastructure and Energy Alternatives (NASDAQ:IEAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Separately, Sidoti started coverage on shares of Infrastructure and Energy Alternatives in a research note on Friday, March 18th. They issued a “buy” rating and a $17.00 target price for the company.

Shares of Infrastructure and Energy Alternatives stock opened at $6.71 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.35 and a debt-to-equity ratio of 45.77. The firm’s 50-day simple moving average is $11.35 and its 200-day simple moving average is $10.50. Infrastructure and Energy Alternatives has a twelve month low of $6.38 and a twelve month high of $14.45.

Infrastructure and Energy Alternatives (NASDAQ:IEAGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.44). During the same quarter in the previous year, the business posted ($0.91) EPS. On average, equities analysts forecast that Infrastructure and Energy Alternatives will post 0.92 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Ares Management LLC boosted its holdings in Infrastructure and Energy Alternatives by 28.9% during the fourth quarter. Ares Management LLC now owns 15,241,275 shares of the company’s stock worth $140,220,000 after purchasing an additional 3,420,236 shares during the last quarter. Park West Asset Management LLC raised its position in Infrastructure and Energy Alternatives by 45.3% during the third quarter. Park West Asset Management LLC now owns 2,326,030 shares of the company’s stock worth $26,587,000 after acquiring an additional 725,000 shares in the last quarter. Invesco Ltd. raised its position in Infrastructure and Energy Alternatives by 3.7% during the fourth quarter. Invesco Ltd. now owns 2,244,425 shares of the company’s stock worth $20,649,000 after acquiring an additional 80,745 shares in the last quarter. BlackRock Inc. raised its position in Infrastructure and Energy Alternatives by 27.0% during the first quarter. BlackRock Inc. now owns 2,185,219 shares of the company’s stock worth $25,895,000 after acquiring an additional 464,684 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Infrastructure and Energy Alternatives by 6.3% during the first quarter. Vanguard Group Inc. now owns 1,508,411 shares of the company’s stock worth $17,875,000 after acquiring an additional 89,134 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Infrastructure and Energy Alternatives Company Profile (Get Rating)

Infrastructure and Energy Alternatives, Inc, through its subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.

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