Encore Wire Corp. Upgraded to “Buy” at EVA Dimensions LLC (WIRE)
Encore Wire Corp. (NASDAQ:WIRE) was upgraded by EVA Dimensions LLC from a “hold” rating to a “buy” rating in a research note issued on Thursday, American Banking and Market News reports.
Shares of Encore Wire Corp. (NASDAQ:WIRE) traded up 2.82% on Thursday, hitting $52.035. The stock had a trading volume of 296,151 shares. Encore Wire Corp. has a 52 week low of $31.46 and a 52 week high of $57.99. The stock has a 50-day moving average of $52.45 and a 200-day moving average of $46.24. The company has a market cap of $1.077 billion and a P/E ratio of 25.66.
Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.02. The company had revenue of $293.50 million for the quarter, compared to the consensus estimate of $281.63 million. On average, analysts predict that Encore Wire Corp. will post $3.05 earnings per share for the current fiscal year.
WIRE has been the subject of a number of other recent research reports. Analysts at Davidson raised their price target on shares of Encore Wire Corp. from $55.00 to $65.00 in a research note on Monday, January 13th. Separately, analysts at Jefferson Research downgraded shares of Encore Wire Corp. from a “buy” rating to a “hold” rating in a research note 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 on Wednesday, December 25th. They now have a $55.80 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.60.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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