IEC Electronics (NYSEAMERICAN:IEC) Earns “Buy” Rating from Noble Financial

Noble Financial reissued their buy rating on shares of IEC Electronics (NYSEAMERICAN:IEC) in a research note published on Monday morning, AnalystRatings.com reports. Noble Financial currently has a $9.50 price target on the technology company’s stock.

IEC has been the subject of a number of other reports. Maxim Group set a $10.00 price target on IEC Electronics and gave the company a buy rating in a report on Wednesday, August 7th. TheStreet cut IEC Electronics from a b- rating to a c rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research raised IEC Electronics from a sell rating to a hold rating in a report on Wednesday, July 10th.

Shares of NYSEAMERICAN IEC opened at $6.36 on Monday. IEC Electronics has a 52-week low of $5.00 and a 52-week high of $8.65.

IEC Electronics (NYSEAMERICAN:IEC) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.05). The company had revenue of $40.32 million during the quarter.

In other news, Director Keith M. Butler acquired 8,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $6.27 per share, with a total value of $50,160.00. Following the acquisition, the director now owns 51,704 shares of the company’s stock, valued at approximately $324,184.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 11,541 shares of company stock valued at $71,406 over the last three months.

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in IEC Electronics by 20.7% during the 2nd quarter. Vanguard Group Inc. now owns 335,325 shares of the technology company’s stock worth $2,106,000 after purchasing an additional 57,600 shares during the last quarter. BlackRock Inc. grew its position in shares of IEC Electronics by 13.5% during the 2nd quarter. BlackRock Inc. now owns 69,658 shares of the technology company’s stock worth $438,000 after buying an additional 8,305 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in shares of IEC Electronics during the 2nd quarter worth about $397,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of IEC Electronics during the 1st quarter worth about $207,000. Finally, Globeflex Capital L P acquired a new position in shares of IEC Electronics during the 1st quarter worth about $74,000.

About IEC Electronics

IEC Electronics Corp., together with its subsidiaries, provides electronic manufacturing services in the United States. It specializes in delivering technical solutions for the custom manufacturing, product configuration, and verification testing of engineered complex products that require a level of manufacturing.

Further Reading: Diversification

Receive News & Ratings for IEC Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IEC Electronics and related companies with MarketBeat.com's FREE daily email newsletter.