IEC Electronics (IEC) Downgraded by 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 analysts also recently issued reports on IEC. Noble Financial reaffirmed a “buy” rating on shares of IEC Electronics in a report on Thursday, August 10th. Maxim Group initiated coverage on IEC Electronics in a report on Thursday, August 17th. They set a “buy” rating and a $7.00 price target for the company. ValuEngine raised IEC Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, TheStreet raised IEC Electronics from a “d+” rating to a “c-” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.07.

IEC Electronics (NYSEAMERICAN IEC) traded down $0.03 during trading hours on Friday, reaching $4.16. The company had a trading volume of 42,009 shares, compared to its average volume of 24,981. IEC Electronics has a 52-week low of $3.21 and a 52-week high of $5.05.

An institutional investor recently raised its position in IEC Electronics stock. Walthausen & Co. LLC lifted its position in shares of IEC Electronics Corp (NYSEAMERICAN:IEC) by 98.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,870 shares of the technology company’s stock after acquiring an additional 78,870 shares during the quarter. Walthausen & Co. LLC owned 1.54% of IEC Electronics worth $572,000 at the end of the most recent quarter.

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About IEC Electronics

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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