Encore Wire Corporation (WIRE) Research Coverage Started at Sidoti
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.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/19/encore-wire-corporation-wire-research-coverage-started-at-sidoti.html.
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.
Receive News & Ratings for Encore Wire Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire Corporation and related companies with MarketBeat.com's FREE daily email newsletter.