Encore Wire Corp. Hits New 52-Week High at $55.00 (WIRE)
Shares of Encore Wire Corp. (NASDAQ:WIRE) hit a new 52-week high during trading on Monday, ARN reports. The stock traded as high as $55.00 and last traded at $53.91, with a volume of 70,943 shares trading hands. The stock had previously closed at $54.57.
A number of research firms have recently commented on WIRE. Analysts at Davidson raised their price target on shares of Encore Wire Corp. from $55.00 to $65.00 in a research note to investors on Monday. Separately, analysts at Jefferson Research downgraded shares of Encore Wire Corp. from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 3rd. Finally, 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.
Encore Wire Corp. has a 52-week low of $31.37 and a 52-week high of $54.84. The stock has a 50-day moving average of $50.59 and a 200-day moving average of $43.34. The company has a market cap of $1.114 billion and a P/E ratio of 27.67.
Encore Wire Corp. (NASDAQ:WIRE) last announced its earnings results on Friday, October 25th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Encore Wire Corp. will post $2.28 EPS for the current fiscal year.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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