Zacks Investment Research Upgrades IEC Electronics (IEC) to “Hold”
IEC Electronics (NYSE:IEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “IEC Electronics Corp. is a full service, ISO 9001 and 9002 certified, contract manufacturer employing state-of-the-art production utilizing both surface mount and pin-through-hole technology. IEC offers its customers a wide range of manufacturing and management services, on either a turnkey or consignment basis, including design prototyping, material procurement and control, concurrent engineering services, manufacturing and test engineering support, statistical quality assurance and complete resource management. (PRESS RELEASE) “
A number of other equities analysts have also recently issued reports on IEC. B. Riley reiterated a “buy” rating and issued a $6.50 price target on shares of IEC Electronics in a research note on Saturday, September 3rd. TheStreet upgraded shares of IEC Electronics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th.
IEC Electronics (NYSE:IEC) opened at 3.55 on Friday. IEC Electronics has a 52-week low of $2.59 and a 52-week high of $5.64. The company has a market capitalization of $36.47 million and a price-to-earnings ratio of 7.60. The stock has a 50 day moving average of $4.12 and a 200-day moving average of $4.53.
A number of institutional investors have recently modified their holdings of IEC. Eagle Global Advisors LLC raised its position in shares of IEC Electronics by 333.0% in the third quarter. Eagle Global Advisors LLC now owns 48,450 shares of the company’s stock worth $231,000 after buying an additional 37,260 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of IEC Electronics during the third quarter worth $151,000. Morgan Stanley raised its position in shares of IEC Electronics by 93.0% in the third quarter. Morgan Stanley now owns 62,324 shares of the company’s stock worth $297,000 after buying an additional 30,028 shares during the period. Walthausen & Co. LLC raised its position in shares of IEC Electronics by 60.0% in the second quarter. Walthausen & Co. LLC now owns 80,000 shares of the company’s stock worth $332,000 after buying an additional 30,000 shares during the period. Finally, Thompson Davis & CO. Inc. raised its position in shares of IEC Electronics by 508.5% in the third quarter. Thompson Davis & CO. Inc. now owns 22,391 shares of the company’s stock worth $107,000 after buying an additional 18,711 shares during the period.
About IEC Electronics
IEC Electronics Corp. provides electronic contract manufacturing services (EMS) to companies in various industries that require advanced technology. The Company specializes in the custom manufacture of circuit board and system-level assemblies; a range of cable and wire harness assemblies capable of withstanding extreme environments, and precision metal components.
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