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.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings data on Wednesday, August 1st. The electronics maker reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.23. Encore Wire had a net margin of 5.89% and a return on equity of 9.21%. The firm had revenue of $336.79 million for the quarter, compared to the consensus estimate of $336.08 million. research analysts predict that Encore Wire will post 2.76 EPS for the current fiscal year.

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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