Noble Financial Reiterates Buy Rating for IEC Electronics (NYSEAMERICAN:IEC)
IEC Electronics (NYSEAMERICAN:IEC)‘s stock had its “buy” rating restated by analysts at Noble Financial in a note issued to investors on Monday, AnalystRatings.com reports. They currently have a $9.50 price objective on the technology company’s stock. Noble Financial’s price objective would indicate a potential upside of 48.21% from the company’s current price.
Other equities analysts have also issued research reports about the company. TheStreet lowered IEC Electronics from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. Maxim Group set a $10.00 price target on IEC Electronics and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded IEC Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 10th.
NYSEAMERICAN IEC opened at $6.41 on Monday. IEC Electronics has a fifty-two week low of $5.00 and a fifty-two week high of $8.65.
In related news, Director Keith M. Butler bought 8,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $6.27 per share, for a total transaction of $50,160.00. Following the acquisition, the director now directly owns 51,704 shares in the company, valued at approximately $324,184.08. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have bought 11,541 shares of company stock worth $71,406.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in IEC Electronics by 13.5% in the second quarter. BlackRock Inc. now owns 69,658 shares of the technology company’s stock valued at $438,000 after purchasing an additional 8,305 shares during the period. Globeflex Capital L P purchased a new stake in IEC Electronics in the first quarter valued at approximately $74,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in IEC Electronics in the first quarter valued at approximately $207,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in IEC Electronics in the second quarter valued at approximately $397,000.
IEC Electronics Company Profile
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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