Houston Wire & Cable Company (NASDAQ:HWCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

A number of other brokerages have also recently issued reports on HWCC. ValuEngine raised Houston Wire & Cable from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 16th. Raymond James Financial, Inc. raised Houston Wire & Cable from a “market perform” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, April 19th. Finally, UBS AG raised Houston Wire & Cable from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.50.

Shares of Houston Wire & Cable (NASDAQ:HWCC) traded down 2.70% on Friday, hitting $5.40. The stock had a trading volume of 21,342 shares. Houston Wire & Cable has a 52-week low of $5.05 and a 52-week high of $8.05. The firm’s 50-day moving average price is $5.75 and its 200 day moving average price is $6.38. The firm’s market cap is $89.03 million.

Houston Wire & Cable (NASDAQ:HWCC) last announced its earnings results on Wednesday, May 10th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $78.71 million during the quarter, compared to analyst estimates of $70.14 million. Houston Wire & Cable had a negative net margin of 1.31% and a negative return on equity of 3.45%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. On average, equities research analysts predict that Houston Wire & Cable will post $0.10 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/11/zacks-investment-research-downgrades-houston-wire-cable-company-hwcc-to-sell.html.

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in Houston Wire & Cable by 4.6% in the first quarter. FMR LLC now owns 1,523,188 shares of the industrial products company’s stock worth $10,282,000 after buying an additional 67,005 shares during the last quarter. Rutabaga Capital Management LLC MA boosted its stake in Houston Wire & Cable by 1.9% in the first quarter. Rutabaga Capital Management LLC MA now owns 1,485,761 shares of the industrial products company’s stock worth $10,029,000 after buying an additional 27,950 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Houston Wire & Cable by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,937 shares of the industrial products company’s stock worth $5,370,000 after buying an additional 35,058 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Houston Wire & Cable by 41.0% in the first quarter. Ameriprise Financial Inc. now owns 544,011 shares of the industrial products company’s stock worth $3,673,000 after buying an additional 158,103 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in Houston Wire & Cable by 23.1% in the second quarter. Brandes Investment Partners LP now owns 356,165 shares of the industrial products company’s stock worth $1,947,000 after buying an additional 66,917 shares during the last quarter. 69.68% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Houston Wire & Cable (HWCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Houston Wire & Cable Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Houston Wire & Cable Company and related companies with MarketBeat.com's FREE daily email newsletter.