In a report released today, Nehal Chokshi from Maxim Group reiterated a Buy rating on IEC Electronics (IEC), with a price target of $9. The company’s shares opened today at $5.61.
Chokshi noted:
“September quarter results largely in-line with our bullish expectations. December quarter guidance is well-above seasonal 20% q/q decline, bodes positively. Raising estimates modestly, 12-month price target to $9, from $8.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 8.4% and a 52.9% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
IEC Electronics has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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IEC Electronics’ market cap is currently $52.68M and has a P/E ratio of 27.05. The company has a Price to Book ratio of 3.27.
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IEC Electronics Corp. provides electronic manufacturing services to advanced technology companies primarily in the military and aerospace, medical, industrial and computing sectors. The firm specializes in the custom manufacture of high reliability, complex circuit cards, system level assemblies, a wide array of custom cable and wire harness assemblies, precision sheet metal products, and advanced research and testing services. Its newest business unit, Dynamic Research and Testing Laboratory, which specializes in the testing and detection of counterfeit electronic parts, as well as component risk mitigation and advanced failure analysis for counterfeit electronics parts. The manufacturing services include printed circuit board and complex system level assembly, cable and wire harness assembly through IEC Electronics Wire & Cable, Inc. and Southern California Braiding Co., Inc., and precision sheet metal fabrication though Celmet Co., Inc. The company was founded by Roger E. Main in 1966 and is headquartered in Newark, NY.
