IEC Electronics Corp (NYSE:IEC) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of IEC Electronics Corp (NYSE:IEC) from a buy rating to a hold rating in a research note issued to investors on Tuesday, July 25th.

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 firms also recently weighed in on IEC. Noble Financial reiterated a buy rating on shares of IEC Electronics Corp in a research report on Saturday, May 13th. TheStreet downgraded IEC Electronics Corp from a c rating to a d+ rating in a research report on Monday, June 12th.

Shares of IEC Electronics Corp (IEC) traded down 3.29% on Tuesday, hitting $4.12. 11,038 shares of the company traded hands. IEC Electronics Corp has a 1-year low of $3.21 and a 1-year high of $5.38. The stock’s market capitalization is $42.52 million. The firm’s 50 day moving average price is $3.86 and its 200-day moving average price is $3.73.

IEC Electronics Corp (NYSE:IEC) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $26 million. IEC Electronics Corp had a negative return on equity of 19.12% and a negative net margin of 2.88%.

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An institutional investor recently raised its position in IEC Electronics Corp stock. Punch & Associates Investment Management Inc. raised its stake in IEC Electronics Corp (NYSE:IEC) by 115.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 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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