Encore Wire Corp. Stock Rating Lowered by Jefferson Research (WIRE)
Encore Wire Corp. (NASDAQ:WIRE) was downgraded by analysts at Jefferson Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports.
Encore Wire Corp. (NASDAQ:WIRE) opened at 51.05 on Friday. Encore Wire Corp. has a 1-year low of $31.28 and a 1-year high of $54.84. The stock has a 50-day moving average of $49.76 and a 200-day moving average of $42.51. The company has a market cap of $1.056 billion and a price-to-earnings ratio of 25.89.
Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis.
A number of other firms have also recently commented on WIRE. Analysts at Zacks downgraded shares of Encore Wire Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, December 25th. They now have a $55.80 price target on the stock. Finally, 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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