IEC Electronics Corp (IEC) Given Average Recommendation of “Strong Buy” by Analysts
IEC Electronics Corp (NYSE:IEC) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a one year consensus price objective of $6.00 for the company and are expecting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given IEC Electronics Corp an industry rank of 106 out of 265 based on the ratings given to related companies.
A number of research analysts have recently issued reports on IEC shares. TheStreet downgraded shares of IEC Electronics Corp from a “c” rating to a “d+” rating in a research report on Monday, June 12th. Zacks Investment Research downgraded shares of IEC Electronics Corp from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Noble Financial reiterated a “buy” rating on shares of IEC Electronics Corp in a research report on Saturday, May 13th.
An institutional investor recently raised its position in IEC Electronics Corp stock. Punch & Associates Investment Management Inc. increased its position in shares of IEC Electronics Corp (NYSE:IEC) by 115.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,200 shares of the technology company’s stock after buying an additional 146,430 shares during the period. Punch & Associates Investment Management Inc. owned about 2.66% of IEC Electronics Corp worth $1,049,000 at the end of the most recent quarter.
IEC Electronics Corp (IEC) traded down 1.50% during midday trading on Monday, reaching $3.93. 7,872 shares of the company’s stock traded hands. The firm has a market cap of $40.54 million and a price-to-earnings ratio of 126.77. IEC Electronics Corp has a 1-year low of $3.21 and a 1-year high of $5.64. The stock’s 50 day moving average price is $3.66 and its 200 day moving average price is $3.67.
IEC Electronics Corp (NYSE:IEC) last issued its quarterly earnings results 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. The firm had revenue of $21.37 million during the quarter, compared to analyst estimates of $22 million. IEC Electronics Corp had a negative return on equity of 19.12% and a negative net margin of 2.88%.
IEC Electronics Corp Company Profile
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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