IEC Electronics (IEC) Rating Lowered to Strong Sell at Zacks Investment Research

IEC Electronics (NYSEAMERICAN:IEC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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) “

Other equities research analysts have also issued research reports about the stock. Maxim Group began coverage on shares of IEC Electronics in a research note on Thursday, August 17th. They issued a “buy” rating and a $7.00 price objective for the company. Noble Financial reaffirmed a “buy” rating on shares of IEC Electronics in a research note on Thursday, August 10th. ValuEngine raised shares of IEC Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, TheStreet raised shares of IEC Electronics from a “d+” rating to a “c-” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.07.

Shares of IEC Electronics (IEC) opened at $4.16 on Friday. IEC Electronics has a 52 week low of $3.21 and a 52 week high of $5.05.

An institutional investor recently raised its position in IEC Electronics stock. Walthausen & Co. LLC boosted its position in shares of IEC Electronics Corp (NYSEAMERICAN:IEC) by 98.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,870 shares of the technology company’s stock after acquiring an additional 78,870 shares during the period. Walthausen & Co. LLC owned 1.54% of IEC Electronics worth $572,000 at the end of the most recent quarter.

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IEC Electronics 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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