Encore Wire (WIRE) Upgraded at BidaskClub
Encore Wire (NASDAQ:WIRE) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. DA Davidson set a $60.00 price target on shares of Encore Wire and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Encore Wire has an average rating of “Hold” and a consensus target price of $60.00.
NASDAQ WIRE traded up $0.60 during trading hours on Friday, reaching $51.90. 46,081 shares of the company traded hands, compared to its average volume of 57,200. Encore Wire has a 12 month low of $41.00 and a 12 month high of $58.70. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.83 and a beta of 1.83.
Several institutional investors have recently bought and sold shares of WIRE. SG Americas Securities LLC bought a new position in shares of Encore Wire in the 1st quarter worth about $158,000. Prudential Financial Inc. lifted its position in shares of Encore Wire by 36.8% in the 1st quarter. Prudential Financial Inc. now owns 144,608 shares of the electronics maker’s stock worth $8,199,000 after buying an additional 38,918 shares during the last quarter. Swiss National Bank lifted its position in shares of Encore Wire by 4.9% in the 1st quarter. Swiss National Bank now owns 36,233 shares of the electronics maker’s stock worth $2,054,000 after buying an additional 1,700 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Encore Wire by 7.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 211,202 shares of the electronics maker’s stock worth $11,976,000 after buying an additional 13,859 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its position in shares of Encore Wire by 96.5% in the 1st quarter. First Mercantile Trust Co. now owns 4,211 shares of the electronics maker’s stock worth $239,000 after buying an additional 2,068 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.
About Encore Wire
Encore Wire Corporation manufactures and sells electrical building wire and cable products for interior electrical wiring in the United States. Its products include NM-B cable for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2, metal-clad, and armored cables for use primarily as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; and other types of wire products.
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