Encore Wire Corp. Given New $65.00 Price Target at Davidson (WIRE)
Investment analysts at Davidson increased their price objective on shares of Encore Wire Corp. (NASDAQ:WIRE) from $55.00 to $65.00 in a note issued to investors on Monday, Analyst Ratings News reports. Davidson’s price objective indicates a potential upside of 15.43% from the company’s current price.
Encore Wire Corp. (NASDAQ:WIRE) opened at 56.33 on Monday. Encore Wire Corp. has a 52 week low of $31.46 and a 52 week high of $56.96. The stock has a 50-day moving average of $51.60 and a 200-day moving average of $44.12. The company has a market cap of $1.165 billion and a price-to-earnings ratio of 28.59.
Encore Wire Corp. (NASDAQ:WIRE) last released its 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Encore Wire Corp. will post $2.28 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WIRE. 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. Separately, 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 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.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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