Encore Wire Corp. Director Buys $209,050 in Stock (WIRE)
Encore Wire Corp. (NASDAQ:WIRE) Director Donald Eugene Courtney acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $41.81 per share, for a total transaction of $209,050.00. Following the purchase, the director now directly owns 180,363 shares of the company’s stock, valued at approximately $7,540,977. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Encore Wire Corp. (NASDAQ:WIRE) traded up 0.86% during mid-day trading on Monday, hitting $42.20. The stock had a trading volume of 110,714 shares. Encore Wire Corp. has a one year low of $36.88 and a one year high of $57.99. The stock has a 50-day moving average of $48.09 and a 200-day moving average of $49.32. The company has a market cap of $874.2 million and a P/E ratio of 18.93.
Encore Wire Corp. (NASDAQ:WIRE) last announced its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.19. The company had revenue of $307.09 million for the quarter, compared to the consensus estimate of $312.00 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Encore Wire Corp. will post $2.10 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on WIRE shares. Analysts at Zacks downgraded shares of Encore Wire Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $42.20 price target on the stock. Analysts at DA Davidson cut their price target on shares of Encore Wire Corp. from $64.00 to $55.00 in a research note on Monday, July 28th.
Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.
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