Houston Wire & Cable Company (HWCC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Houston Wire & Cable Company (NASDAQ:HWCC) have received an average recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.50.
HWCC has been the topic of several research analyst reports. TheStreet cut Houston Wire & Cable from a “c-” rating to a “d+” rating in a report on Tuesday, August 15th. ValuEngine raised Houston Wire & Cable from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised Houston Wire & Cable from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th.
In other news, Director Mark A. Ruelle purchased 12,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost 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 $74,400. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.00% of the stock is owned by corporate insiders.
Houston Wire & Cable (HWCC) opened at $6.45 on Friday. 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 has a 12-month low of $4.70 and a 12-month high of $8.05.
Houston Wire & Cable (NASDAQ:HWCC) last released its quarterly earnings results on Thursday, November 9th. The industrial products company reported $0.06 earnings per share for the quarter. The firm had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $77.60 million. Houston Wire & Cable had a negative return on equity of 0.86% and a negative net margin of 1.33%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. equities analysts predict that Houston Wire & Cable will post 0.09 EPS for the current year.
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Houston Wire & Cable Company Profile
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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