Encore Wire (NASDAQ:WIRE) Stock Rating Reaffirmed by CJS Securities

Encore Wire (NASDAQ:WIRE)‘s stock had its “market perform” rating reissued by stock analysts at CJS Securities in a report released on Friday, Benzinga reports.

Several other brokerages also recently commented on WIRE. StockNews.com downgraded shares of Encore Wire from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research report on Tuesday. Finally, Sidoti reissued a “neutral” rating and set a $290.00 price objective on shares of Encore Wire in a research report on Tuesday.

Encore Wire Stock Down 0.0 %

NASDAQ WIRE traded down $0.01 during trading hours on Friday, hitting $286.99. The company’s stock had a trading volume of 43,850 shares, compared to its average volume of 249,371. Encore Wire has a twelve month low of $138.20 and a twelve month high of $295.90. The firm has a market capitalization of $4.53 billion, a P/E ratio of 13.37 and a beta of 1.31. The stock has a fifty day moving average of $242.95 and a 200 day moving average of $214.48.

Encore Wire (NASDAQ:WIRE) last issued its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 EPS for the quarter, beating the consensus estimate of $4.05 by $0.05. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The firm had revenue of $633.78 million during the quarter, compared to the consensus estimate of $601.48 million. During the same quarter in the prior year, the firm earned $8.28 earnings per share. The business’s quarterly revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Encore Wire will post 16.52 earnings per share for the current year.

Institutional Investors Weigh In On Encore Wire

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise grew its stake in Encore Wire by 10.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock valued at $109,000 after buying an additional 40 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its stake in Encore Wire by 0.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 5,330 shares of the electronics maker’s stock valued at $1,138,000 after buying an additional 41 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Encore Wire by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,104 shares of the electronics maker’s stock valued at $877,000 after buying an additional 51 shares during the last quarter. Natixis Advisors L.P. grew its stake in Encore Wire by 0.5% in the 4th quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock valued at $2,181,000 after buying an additional 53 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Encore Wire by 3.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the electronics maker’s stock valued at $324,000 after buying an additional 54 shares during the last quarter. 99.82% of the stock is owned by institutional investors.

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.