IEC Electronics (NYSEAMERICAN:IEC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of IEC Electronics (NYSEAMERICAN:IEC) from a strong sell rating to a hold rating in a report issued on Wednesday, April 11th.

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) “

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Shares of IEC stock opened at $4.47 on Wednesday. IEC Electronics has a 12 month low of $3.35 and a 12 month high of $5.05.

IEC Electronics (NYSEAMERICAN:IEC) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.19). IEC Electronics had a negative return on equity of 13.93% and a negative net margin of 2.34%. The business had revenue of $21.16 million for the quarter, compared to analyst estimates of $27.50 million.

A hedge fund recently raised its stake in IEC Electronics stock. Deutsche Bank AG increased its position in shares of IEC Electronics (NYSEAMERICAN:IEC) by 191.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,170 shares of the technology company’s stock after purchasing an additional 39,544 shares during the period. Deutsche Bank AG owned about 0.59% of IEC Electronics worth $247,000 at the end of the most recent reporting period.

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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 sophisticated level of manufacturing.

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