IEC Electronics (NYSEAMERICAN:IEC) Upgraded by Zacks Investment Research to Hold
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) “
Separately, TheStreet cut shares of YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th.
IEC Electronics (NYSEAMERICAN:IEC) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.09). The company had revenue of $37.29 million for the quarter, compared to the consensus estimate of $37.00 million.
In other IEC Electronics news, CFO Thomas L. Barbato acquired 7,500 shares of the stock in a transaction dated Friday, May 10th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the acquisition, the chief financial officer now owns 7,500 shares in the company, valued at approximately $47,700. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith M. Butler acquired 8,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $6.27 per share, with a total value of $50,160.00. Following the completion of the acquisition, the director now owns 51,704 shares in the company, valued at approximately $324,184.08. The disclosure for this purchase can be found here. In the last three months, insiders acquired 19,500 shares of company stock valued at $121,860.
Institutional investors and hedge funds have recently made changes to their positions in the company. Walthausen & Co. LLC raised its holdings in IEC Electronics by 4.9% during the 4th quarter. Walthausen & Co. LLC now owns 266,370 shares of the technology company’s stock valued at $1,524,000 after buying an additional 12,360 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in IEC Electronics during the 1st quarter valued at $207,000. Globeflex Capital L P bought a new stake in IEC Electronics during the 1st quarter valued at $74,000. Finally, Worth Venture Partners LLC bought a new stake in IEC Electronics during the 4th quarter valued at $48,000.
About IEC Electronics
IEC Electronics Corp., together with its subsidiaries, provides electronic manufacturing services in the United States. It specializes in delivering technical solutions for the custom manufacturing, product configuration, and verification testing of engineered complex products that require a level of manufacturing.
See Also: Intrinsic Value
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