Zacks: IEC Electronics (NYSE:IEC) Given $6.50 Average Target Price by Brokerages
Shares of IEC Electronics (NYSE:IEC) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price target of $6.50 for the company and are anticipating that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also given IEC Electronics an industry rank of 147 out of 265 based on the ratings given to related companies.
IEC has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and set a $6.50 price target on shares of IEC Electronics in a research note on Saturday, September 3rd. Zacks Investment Research lowered IEC Electronics from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Finally, TheStreet raised IEC Electronics from a “sell” rating to a “hold” rating in a research note on Friday, August 26th.
A hedge fund recently raised its stake in IEC Electronics stock. Walthausen & Co. LLC boosted its position in shares of IEC Electronics (NYSE:IEC) by 60.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Walthausen & Co. LLC owned 0.78% of IEC Electronics worth $332,000 as of its most recent SEC filing.
Shares of IEC Electronics (NYSE:IEC) traded up 0.42% during trading on Tuesday, reaching $4.76. 2,334 shares of the company were exchanged. The company has a 50 day moving average price of $5.00 and a 200-day moving average price of $4.61. The stock has a market capitalization of $48.90 million and a price-to-earnings ratio of 10.19. IEC Electronics has a one year low of $2.59 and a one year high of $5.64.
IEC Electronics (NYSE:IEC) last released its earnings results on Wednesday, August 10th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. The business earned $32.50 million during the quarter, compared to the consensus estimate of $32.99 million. Equities analysts predict that IEC Electronics will post $0.58 EPS for the current year.
About IEC Electronics
IEC Electronics Corp. provides electronic contract manufacturing services (EMS) to companies in various industries that require advanced technology. The Company specializes in the custom manufacture of circuit board and system-level assemblies; a range of cable and wire harness assemblies capable of withstanding extreme environments, and precision metal components.
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