Houston Wire & Cable Company (NASDAQ:HWCC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Houston Wire & Cable Company (NASDAQ:HWCC) from a sell rating to a hold rating in a research note published on Wednesday morning.

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. “

Several other equities research analysts have also commented on the company. ValuEngine upgraded Houston Wire & Cable from a strong sell rating to a sell rating in a research note on Tuesday, May 16th. Raymond James Financial, Inc. upgraded Houston Wire & Cable from a market perform rating to a buy rating and set a $8.00 price target for the company in a research note on Wednesday, April 19th. Finally, UBS AG upgraded Houston Wire & Cable from a market perform rating to an outperform rating in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $7.50.

Shares of Houston Wire & Cable (HWCC) traded up 3.36% during mid-day trading on Wednesday, hitting $6.15. The company had a trading volume of 37,318 shares. The company’s market cap is $101.46 million. The firm has a 50-day moving average of $6.25 and a 200-day moving average of $6.61. Houston Wire & Cable has a 12 month low of $5.05 and a 12 month high of $8.05.

Houston Wire & Cable (NASDAQ:HWCC) last released its earnings results on Wednesday, May 10th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $70.14 million. Houston Wire & Cable had a negative return on equity of 4.09% and a negative net margin of 2.28%. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. On average, analysts expect that Houston Wire & Cable will post $0.10 EPS for the current year.

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Several large investors have recently bought and sold shares of HWCC. Russell Investments Group Ltd. raised its stake in Houston Wire & Cable by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 18,872 shares of the industrial products company’s stock worth $127,000 after buying an additional 1,872 shares during the period. UBS Group AG raised its stake in 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 buying an additional 7,398 shares during the period. GSA Capital Partners LLP raised its stake in Houston Wire & Cable by 3.4% in the fourth quarter. GSA Capital Partners LLP now owns 63,135 shares of the industrial products company’s stock worth $410,000 after buying an additional 2,100 shares during the period. Isthmus Partners LLC raised its stake in Houston Wire & Cable by 4.5% in the first quarter. Isthmus Partners LLC now owns 83,526 shares of the industrial products company’s stock worth $564,000 after buying an additional 3,616 shares during the period. Finally, Pacific Ridge Capital Partners LLC raised its stake in Houston Wire & Cable by 30.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 87,150 shares of the industrial products company’s stock worth $588,000 after buying an additional 20,090 shares during the period. Institutional investors and hedge funds own 70.77% of the company’s stock.

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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