Houston Wire & Cable Company (NASDAQ:HWCC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, November 15th. The firm currently has a $7.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.53% from the stock’s current price.

According to Zacks, “With more than three decades of experience in the electrical industry, HOUSTON WIRE & CABLE COMPANY is one of the largest distributors of specialty wire and cable and related services in the U.S. electrical distribution market. Headquartered in Houston, HWCC has sales and distribution facilities in Atlanta, Baton Rouge, Charlotte, Chicago, Denver, Houston, Los Angeles, Philadelphia, San Francisco, Seattle and Tampa. Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables and private branded products, including LifeGuard, a low-smoke, zero-halogen cable. HWCC’s comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and round-the-clock, throughout-the-year service. “

Separately, TheStreet cut shares of Houston Wire & Cable from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $7.50.

Shares of Houston Wire & Cable (HWCC) opened at $6.45 on Wednesday. Houston Wire & Cable has a 1-year low of $4.70 and a 1-year high of $8.05. The company has a quick ratio of 2.39, a current ratio of 5.60 and a debt-to-equity ratio of 0.82.

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. Houston Wire & Cable had a negative return on equity of 0.86% and a negative net margin of 1.33%. The firm had revenue of $81.20 million during the quarter, compared to the consensus estimate of $77.60 million. During the same period last year, the business posted ($0.09) EPS. The business’s revenue was up 24.5% compared to the same quarter last year. equities analysts predict that Houston Wire & Cable will post 0.09 EPS for the current fiscal year.

In other news, Director Mark A. Ruelle acquired 12,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average price of $6.20 per share, for a total transaction of $74,400.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $74,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pekin Singer Strauss Asset Management IL lifted its stake in shares of Houston Wire & Cable by 150.0% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 25,000 shares of the industrial products company’s stock worth $131,000 after buying an additional 15,000 shares in the last quarter. UBS Group AG increased its stake in shares of Houston Wire & Cable by 26.9% in the first quarter. UBS Group AG now owns 34,896 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 7,398 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new stake in shares of Houston Wire & Cable in the second quarter worth $218,000. Northern Trust Corp increased its stake in shares of Houston Wire & Cable by 2.4% in the second quarter. Northern Trust Corp now owns 49,933 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Isthmus Partners LLC increased its stake in shares of Houston Wire & Cable by 0.6% in the second quarter. Isthmus Partners LLC now owns 84,023 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

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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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