Investment analysts at Sidoti initiated coverage on shares of Encore Wire Corporation (NASDAQ:WIRE) in a report issued on Thursday, The Fly reports. The firm set a “neutral” rating on the electronics maker’s stock.

A number of other research firms have also recently commented on WIRE. Zacks Investment Research cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BidaskClub cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, TheStreet cut Encore Wire Corporation from a “b” rating to a “c+” rating in a report on Friday, August 4th.

Encore Wire Corporation (NASDAQ WIRE) traded up 0.33% during trading on Thursday, hitting $46.25. The company had a trading volume of 76,679 shares. Encore Wire Corporation has a one year low of $33.70 and a one year high of $49.75. The stock has a 50-day moving average of $44.16 and a 200-day moving average of $42.84. The stock has a market capitalization of $960.01 million, a PE ratio of 22.90 and a beta of 2.25.

Encore Wire Corporation (NASDAQ:WIRE) last posted its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.06). Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $282.25 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Encore Wire Corporation will post $2.20 EPS for the current year.

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Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in shares of Encore Wire Corporation by 78.9% during the second quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock worth $174,000 after acquiring an additional 1,806 shares during the period. Mason Street Advisors LLC boosted its holdings in shares of Encore Wire Corporation by 7.1% during the first quarter. Mason Street Advisors LLC now owns 4,849 shares of the electronics maker’s stock worth $223,000 after acquiring an additional 320 shares during the period. Karp Capital Management Corp bought a new stake in shares of Encore Wire Corporation during the first quarter worth approximately $230,000. KCG Holdings Inc. bought a new stake in shares of Encore Wire Corporation during the first quarter worth approximately $269,000. Finally, Aperio Group LLC boosted its holdings in shares of Encore Wire Corporation by 25.2% during the second quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 1,260 shares during the period. Institutional investors own 89.13% of the company’s stock.

About Encore Wire Corporation

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

The Fly

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