Zacks Investment Research cut shares of IEC Electronics (NYSE:IEC) from a hold rating to a sell rating in a report published 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 research analysts have also issued reports about the stock. B. Riley restated a buy rating and issued a $6.50 price objective on shares of IEC Electronics in a research note on Monday, August 15th. TheStreet upgraded shares of IEC Electronics from a sell rating to a hold rating in a research note on Friday, August 26th.

Shares of IEC Electronics (NYSE:IEC) traded down 1.99% on Friday, reaching $3.95. 19,478 shares of the company were exchanged. IEC Electronics has a 52-week low of $2.59 and a 52-week high of $5.64. The stock has a 50 day moving average of $4.80 and a 200-day moving average of $4.65. The company has a market capitalization of $40.58 million and a P/E ratio of 8.46.

IEC Electronics (NYSE:IEC) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business earned $32.50 million during the quarter, compared to analyst estimates of $32.99 million. On average, analysts predict that IEC Electronics will post $0.58 EPS for the current fiscal year.

An institutional investor recently raised its position in IEC Electronics stock. Walthausen & Co. LLC boosted its position in IEC Electronics (NYSE:IEC) by 60.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Walthausen & Co. LLC owned about 0.78% of IEC Electronics worth $332,000 at the end of the most recent reporting period.

IEC Electronics Company Profile

IEC Electronics Corp. provides electronic contract manufacturing services (EMS) to companies in various industries that require advanced technology. The Company specializes in the custom manufacture of circuit board and system-level assemblies; a range of cable and wire harness assemblies capable of withstanding extreme environments, and precision metal components.

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