Zacks: IEC Electronics (NYSE:IEC) Given $6.50 Average Target Price by Brokerages
IEC Electronics (NYSE:IEC) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $6.50 for the company and are forecasting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also given IEC Electronics an industry rank of 147 out of 265 based on the ratings given to related companies.
Several research firms have commented on IEC. Zacks Investment Research upgraded shares of IEC Electronics from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Tuesday, August 9th. B. Riley restated a “buy” rating and issued a $6.50 price target on shares of IEC Electronics in a research note on Monday, August 15th. Finally, TheStreet upgraded shares of IEC Electronics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th.
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Shares of IEC Electronics (NYSE:IEC) traded up 0.42% on Tuesday, reaching $4.76. 2,334 shares of the company’s stock traded hands. IEC Electronics has a 52 week low of $2.59 and a 52 week high of $5.64. The firm has a market capitalization of $48.90 million and a price-to-earnings ratio of 10.19. The company has a 50 day moving average price of $5.00 and a 200 day moving average price of $4.61.
IEC Electronics (NYSE:IEC) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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, equities research analysts predict that IEC Electronics will post $0.58 earnings per share for the current fiscal year.
A hedge fund recently raised its stake 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.
About IEC Electronics
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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