IEC Electronics Corp (IEC) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of IEC Electronics Corp (NYSE:IEC) from a sell rating to a hold rating in a research note issued to investors on Wednesday, July 12th.
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) “
IEC has been the subject of a number of other research reports. TheStreet lowered IEC Electronics Corp from a c rating to a d+ rating in a report on Monday, June 12th. Noble Financial reaffirmed a buy rating on shares of IEC Electronics Corp in a report on Saturday, July 1st.
Shares of IEC Electronics Corp (IEC) opened at 4.06 on Wednesday. IEC Electronics Corp has a 52-week low of $3.21 and a 52-week high of $5.64. The company’s 50-day moving average is $3.75 and its 200 day moving average is $3.70. The company has a market cap of $41.88 million and a PE ratio of 130.97.
IEC Electronics Corp (NYSE:IEC) last posted its earnings results on Wednesday, May 10th. The technology company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $21.37 million for the quarter, compared to analysts’ expectations of $22 million. IEC Electronics Corp had a negative net margin of 2.88% and a negative return on equity of 19.12%.
An institutional investor recently raised its position in IEC Electronics Corp stock. Renaissance Technologies LLC raised its position in shares of IEC Electronics Corp (NYSE:IEC) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,300 shares of the technology company’s stock after buying an additional 32,000 shares during the period. Renaissance Technologies LLC owned 2.82% of IEC Electronics Corp worth $1,033,000 as of its most recent filing with the SEC.
IEC Electronics Corp Company Profile
IEC Electronics Corp. provides electronic manufacturing services (EMS) to a range of technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with an array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking.
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