Encore Wire (NASDAQ:WIRE) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Encore Wire (NASDAQ:WIRE) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the electronics maker’s stock.

Other equities analysts have also issued research reports about the stock. CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Sidoti reaffirmed a “neutral” rating and set a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. Finally, DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target for the company. in a report on Tuesday, April 16th.

Encore Wire Stock Performance

WIRE stock opened at $278.69 on Monday. The firm has a market cap of $4.40 billion, a P/E ratio of 14.78 and a beta of 1.28. Encore Wire has a 1 year low of $150.51 and a 1 year high of $295.90. The stock has a 50-day simple moving average of $271.46 and a 200-day simple moving average of $233.72.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.65 by $0.27. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The company had revenue of $632.66 million during the quarter, compared to the consensus estimate of $579.64 million. During the same quarter last year, the company earned $6.50 earnings per share. Encore Wire’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Encore Wire will post 21.24 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Spire Wealth Management grew its stake in Encore Wire by 42.0% during the 1st quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock worth $37,000 after buying an additional 42 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 83 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Encore Wire in the 4th quarter worth approximately $80,000. Beaird Harris Wealth Management LLC acquired a new position in Encore Wire in the third quarter worth approximately $91,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Encore Wire during the fourth quarter valued at $99,000. Institutional investors own 99.82% of the company’s stock.

Encore Wire Company Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.