IEC Electronics Corp (NYSE:IEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, July 18th. The brokerage currently has a $4.25 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 4.91% from the stock’s previous close.
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) “
Several other research analysts have also issued reports on the company. Noble Financial reaffirmed a “buy” rating on shares of IEC Electronics Corp in a research report on Saturday, May 13th. TheStreet lowered IEC Electronics Corp from a “c” rating to a “d+” rating in a research report on Monday, June 12th.
IEC Electronics Corp (NYSE IEC) opened at 4.051 on Tuesday. IEC Electronics Corp has a one year low of $3.21 and a one year high of $5.64. The company has a market capitalization of $41.79 million and a P/E ratio of 130.677. The stock’s 50 day moving average price is $3.73 and its 200 day moving average price is $3.69.
IEC Electronics Corp (NYSE:IEC) last released its quarterly earnings results on Wednesday, May 10th. The technology company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $21.37 million during the quarter, compared to the consensus estimate of $22 million. IEC Electronics Corp had a negative return on equity of 19.12% and a negative net margin of 2.88%. Equities analysts anticipate that IEC Electronics Corp will post $0.00 EPS for the current fiscal year.
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An institutional investor recently raised its position in IEC Electronics Corp stock. Punch & Associates Investment Management Inc. boosted its position in shares of IEC Electronics Corp (NYSE:IEC) by 115.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,200 shares of the technology company’s stock after buying an additional 146,430 shares during the period. Punch & Associates Investment Management Inc. owned approximately 2.66% of IEC Electronics Corp worth $1,049,000 at the end of the most recent reporting period.
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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