IEC Electronics (NYSEAMERICAN:IEC) Rating Increased to Hold at Zacks Investment Research

IEC Electronics (NYSEAMERICAN:IEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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) “

Separately, TheStreet cut shares of YRC Worldwide from a “c” rating to a “d+” rating in a research note on Wednesday, May 15th.

IEC stock opened at $5.95 on Wednesday. IEC Electronics has a 52 week low of $4.77 and a 52 week high of $8.65.

IEC Electronics (NYSEAMERICAN:IEC) last released its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.09). The company had revenue of $37.29 million for the quarter, compared to the consensus estimate of $37.00 million.

In other IEC Electronics news, Director Keith M. Butler bought 8,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $6.27 per share, with a total value of $50,160.00. Following the completion of the acquisition, the director now directly owns 51,704 shares of the company’s stock, valued at $324,184.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas L. Barbato bought 7,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of $6.36 per share, with a total value of $47,700.00. Following the acquisition, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at $47,700. The disclosure for this purchase can be found here. In the last three months, insiders purchased 19,500 shares of company stock valued at $121,860.

Several institutional investors have recently added to or reduced their stakes in the company. Walthausen & Co. LLC boosted its position in shares of IEC Electronics by 4.9% during the 4th quarter. Walthausen & Co. LLC now owns 266,370 shares of the technology company’s stock valued at $1,524,000 after acquiring an additional 12,360 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of IEC Electronics during the 1st quarter valued at about $207,000. Globeflex Capital L P acquired a new position in shares of IEC Electronics during the 1st quarter valued at about $74,000. Finally, Worth Venture Partners LLC acquired a new position in shares of IEC Electronics during the 4th quarter valued at about $48,000.

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.

Featured Story: What Are Treasury Bonds?

Get a free copy of the Zacks research report on IEC Electronics (IEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.