IEC Electronics (NYSEAMERICAN:IEC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of IEC Electronics (NYSEAMERICAN:IEC) from a sell rating to a hold rating in a research note published 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 lowered YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th.

IEC Electronics stock opened at $5.59 on Wednesday. IEC Electronics has a one year low of $4.77 and a one year high of $8.65.

IEC Electronics (NYSEAMERICAN:IEC) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.09). The business had revenue of $37.29 million during the quarter, compared to analysts’ expectations of $37.00 million.

In other news, Director Keith M. Butler bought 8,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $6.27 per share, with a total value of $50,160.00. Following the completion of the transaction, the director now directly owns 51,704 shares of the company’s stock, valued at $324,184.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas L. Barbato bought 7,500 shares of the stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the transaction, 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. Over the last three months, insiders acquired 19,500 shares of company stock worth $121,860.

Institutional investors have recently made changes to their positions in the stock. Worth Venture Partners LLC bought a new position in IEC Electronics in the 4th quarter valued at $48,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in IEC Electronics in the 1st quarter valued at $207,000. Globeflex Capital L P purchased a new position in shares of IEC Electronics during the 1st quarter valued at $74,000. Finally, Walthausen & Co. LLC lifted 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 buying an additional 12,360 shares during the last quarter.

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.

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