IEC Electronics Corp (NYSE:IEC) Upgraded to “Hold” by Zacks Investment Research

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

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) “

A number of other research firms have also issued reports on IEC. TheStreet lowered IEC Electronics Corp from a c rating to a d+ rating in a research report on Monday, June 12th. Noble Financial restated a buy rating on shares of IEC Electronics Corp in a research report on Saturday, May 13th.

Shares of IEC Electronics Corp (NYSE:IEC) opened at 3.79 on Wednesday. The firm has a 50-day moving average price of $3.64 and a 200-day moving average price of $3.65. IEC Electronics Corp has a 52 week low of $3.21 and a 52 week high of $5.64. The stock has a market cap of $39.10 million and a PE ratio of 122.26.

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

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A hedge fund recently raised its stake in IEC Electronics Corp stock. Renaissance Technologies LLC increased its position in shares of IEC Electronics Corp (NYSE:IEC) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 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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