IEC Electronics (IEC) Cut to Strong Sell at Zacks Investment Research
IEC Electronics (NYSEAMERICAN:IEC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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) “
A number of other equities research analysts have also recently commented on IEC. Noble Financial reissued a “buy” rating on shares of IEC Electronics in a research note on Thursday, August 10th. Maxim Group initiated coverage on IEC Electronics in a research note on Thursday, August 17th. They issued a “buy” rating and a $7.00 price objective for the company. ValuEngine raised IEC Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, TheStreet raised IEC Electronics from a “d+” rating to a “c-” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. IEC Electronics has a consensus rating of “Hold” and an average price target of $5.07.
An institutional investor recently raised its position in IEC Electronics stock. Punch & Associates Investment Management Inc. increased its holdings in shares of IEC Electronics Corp (NYSEAMERICAN:IEC) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 321,200 shares of the technology company’s stock after acquiring an additional 48,000 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 3.11% of IEC Electronics worth $1,156,000 as of its most recent SEC filing.
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IEC Electronics 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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