Zacks Investment Research Upgrades IEC Electronics Corp (NYSE:IEC) to “Buy”

Zacks Investment Research upgraded shares of IEC Electronics Corp (NYSE:IEC) from a hold rating to a buy rating in a research note released on Wednesday, October 18th. They currently have $5.00 target price on the technology company’s stock.

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 company. Noble Financial reiterated a buy rating on shares of IEC Electronics Corp in a research note on Saturday, July 1st. Maxim Group started coverage on IEC Electronics Corp in a research report on Thursday, August 17th. They set a buy rating and a $7.00 price objective for the company. Finally, ValuEngine raised shares of IEC Electronics Corp from a sell rating to a hold rating in a report on Wednesday, September 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. IEC Electronics Corp presently has an average rating of Hold and an average price target of $5.07.

Shares of IEC Electronics Corp (NYSE IEC) traded down $0.01 during trading hours on Wednesday, reaching $4.37. The company had a trading volume of 13,082 shares, compared to its average volume of 42,801. IEC Electronics Corp has a 52 week low of $3.21 and a 52 week high of $5.05.

IEC Electronics Corp (NYSE:IEC) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.07. The business had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.00 million. IEC Electronics Corp had a return on equity of 24.24% and a net margin of 3.04%.

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A hedge fund recently raised its stake in IEC Electronics Corp stock. Walthausen & Co. LLC lifted its stake in shares of IEC Electronics Corp (NYSE:IEC) by 98.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,870 shares of the technology company’s stock after buying an additional 78,870 shares during the period. Walthausen & Co. LLC owned approximately 1.54% of IEC Electronics Corp worth $572,000 at the end of the most recent quarter.

About IEC Electronics Corp

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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