Encore Wire Corp. CFO Sells $1,496,100 in Stock (WIRE)
Encore Wire Corp. (NASDAQ:WIRE) CFO Frank Bilban sold 30,000 shares of the stock on the open market in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $49.87, for a total value of $1,496,100.00. Following the sale, the chief financial officer now directly owns 78,750 shares in the company, valued at approximately $3,927,263. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Encore Wire Corp. (NASDAQ:WIRE) traded up 0.51% during mid-day trading on Thursday, hitting $49.53. The stock had a trading volume of 81,490 shares. Encore Wire Corp. has a 52 week low of $28.05 and a 52 week high of $42.48. The stock has a 50-day moving average of $41.52 and a 200-day moving average of $37.62. The company has a market cap of $1.024 billion and a P/E ratio of 24.99.
Encore Wire Corp. (NASDAQ:WIRE) last announced its earnings results on Friday, October 25th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.21. The company had revenue of $309.90 million for the quarter, compared to the consensus estimate of $284.65 million. During the same quarter last year, the company posted $0.27 earnings per share. Encore Wire Corp.’s revenue was up 15.1% compared to the same quarter last year. On average, analysts predict that Encore Wire Corp. will post $2.25 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on WIRE shares. Analysts at Zacks upgraded shares of Encore Wire Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, October 25th. They now have a $47.20 price target on the stock. Separately, analysts at DA Davidson upgraded shares of Encore Wire Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, October 23rd. They now have a $52.00 price target on the stock, up previously from $41.00.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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