Houston Wire & Cable Company (NASDAQ:HWCC) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Houston Wire & Cable from a “hold” rating to a “strong-buy” rating and set a $7.00 price target for the company in a research note on Wednesday, November 15th. TheStreet cut shares of Houston Wire & Cable from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.50.

Shares of Houston Wire & Cable (NASDAQ:HWCC) traded up $0.40 on Tuesday, hitting $6.50. 88,449 shares of the stock traded hands, compared to its average volume of 41,374. Houston Wire & Cable has a one year low of $4.70 and a one year high of $8.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.60 and a quick ratio of 2.39.

Houston Wire & Cable (NASDAQ:HWCC) last issued its quarterly earnings results on Thursday, November 9th. The industrial products company reported $0.06 earnings per share for the quarter. The company had revenue of $81.20 million during the quarter, compared to analysts’ expectations of $77.60 million. Houston Wire & Cable had a negative net margin of 1.33% and a negative return on equity of 0.86%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the business earned ($0.09) EPS. sell-side analysts expect that Houston Wire & Cable will post 0.09 EPS for the current fiscal year.

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In other Houston Wire & Cable news, Director Mark A. Ruelle purchased 12,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $6.20 per share, with a total value of $74,400.00. Following the acquisition, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $74,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roy W. Haley purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $4.87 per share, with a total value of $48,700.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $48,700. The disclosure for this purchase can be found here. Insiders purchased 32,000 shares of company stock valued at $171,100 over the last three months. 4.00% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Isthmus Partners LLC lifted its holdings in Houston Wire & Cable by 0.6% during the 2nd quarter. Isthmus Partners LLC now owns 84,023 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 497 shares during the last quarter. Northern Trust Corp lifted its holdings in Houston Wire & Cable by 2.4% during the 2nd quarter. Northern Trust Corp now owns 49,933 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 1,172 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Houston Wire & Cable by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 97,400 shares of the industrial products company’s stock valued at $657,000 after purchasing an additional 2,200 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Houston Wire & Cable by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 93,518 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 3,178 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Houston Wire & Cable by 26.9% during the 1st quarter. UBS Group AG now owns 34,896 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 7,398 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

About Houston Wire & Cable

Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.

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