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

Zacks Investment Research upgraded shares of IEC Electronics Corp (NYSE:IEC) from a sell rating to a hold rating in a report issued on Wednesday morning.

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) “

IEC has been the subject of a number of other reports. TheStreet cut shares of IEC Electronics Corp from a c rating to a d+ rating in a report on Monday, June 12th. Noble Financial reiterated a buy rating on shares of IEC Electronics Corp in a report on Saturday, July 1st.

Shares of IEC Electronics Corp (NYSE IEC) traded up 1.07% during midday trading on Wednesday, reaching $3.79. 19,120 shares of the company’s stock traded hands. The stock has a market cap of $39.10 million and a P/E ratio of 122.26. IEC Electronics Corp has a 12 month low of $3.21 and a 12 month high of $5.64. The stock has a 50 day moving average of $3.64 and a 200-day moving average of $3.65.

IEC Electronics Corp (NYSE:IEC) last issued its quarterly earnings data on Wednesday, May 10th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $21.37 million for the quarter, compared to analyst estimates of $22 million. IEC Electronics Corp had a negative net margin of 2.88% and a negative return on equity of 19.12%.

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A hedge fund recently raised its stake in IEC Electronics Corp stock. Renaissance Technologies LLC boosted its stake in IEC Electronics Corp (NYSE:IEC) by 12.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 289,300 shares of the technology company’s stock after buying an additional 32,000 shares during the period. Renaissance Technologies LLC owned about 2.82% of IEC Electronics Corp worth $1,033,000 at the end of the most recent reporting period.

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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