Encore Wire (NASDAQ:WIRE) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

WIRE has been the subject of several other research reports. Sidoti upgraded shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Encore Wire from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Finally, TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd.

Encore Wire (WIRE) traded up $0.10 during midday trading on Tuesday, hitting $51.05. 64,136 shares of the company traded hands, compared to its average volume of 75,240. Encore Wire has a twelve month low of $37.30 and a twelve month high of $51.50. The company has a market capitalization of $1,060.00, a PE ratio of 21.27, a PEG ratio of 2.41 and a beta of 2.31.

Encore Wire (NASDAQ:WIRE) last released its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.12. Encore Wire had a net margin of 4.53% and a return on equity of 8.42%. The business had revenue of $292.00 million during the quarter, compared to analysts’ expectations of $279.60 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. research analysts predict that Encore Wire will post 2.32 EPS for the current year.

In related news, VP Frank J. Bilban sold 4,136 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $47.50, for a total value of $196,460.00. Following the completion of the transaction, the vice president now owns 61,150 shares of the company’s stock, valued at $2,904,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Frank J. Bilban sold 15,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $50.50, for a total transaction of $757,500.00. Following the completion of the transaction, the vice president now directly owns 34,900 shares of the company’s stock, valued at approximately $1,762,450. The disclosure for this sale can be found here. Insiders sold 41,507 shares of company stock valued at $2,043,249 in the last three months. Company insiders own 3.79% of the company’s stock.

Large investors have recently bought and sold shares of the stock. LSV Asset Management acquired a new position in Encore Wire in the first quarter worth about $101,000. State of Alaska Department of Revenue increased its holdings in shares of Encore Wire by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 2,290 shares of the electronics maker’s stock worth $105,000 after buying an additional 50 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Encore Wire by 13.8% during the second quarter. Teacher Retirement System of Texas now owns 2,746 shares of the electronics maker’s stock worth $102,000 after buying an additional 334 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Encore Wire during the second quarter worth approximately $151,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Encore Wire by 3.5% during the first quarter. BNP Paribas Arbitrage SA now owns 4,201 shares of the electronics maker’s stock worth $193,000 after buying an additional 143 shares in the last quarter. 88.92% of the stock is owned by hedge funds and other institutional investors.

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About Encore Wire

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.

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