Sidoti Initiates Coverage on Encore Wire Corporation (WIRE)

Research analysts at Sidoti assumed coverage on shares of Encore Wire Corporation (NASDAQ:WIRE) in a research note issued to investors on Thursday. The firm set a “neutral” rating on the electronics maker’s stock.

Other research analysts also recently issued reports about the company. TheStreet downgraded Encore Wire Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded Encore Wire Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, BidaskClub downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Encore Wire Corporation (NASDAQ:WIRE) traded up 0.33% during trading on Thursday, hitting $46.25. The stock had a trading volume of 63,535 shares. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75. The company’s 50-day moving average is $44.16 and its 200 day moving average is $42.84. The firm has a market cap of $960.01 million, a PE ratio of 22.90 and a beta of 2.25.

Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.06). The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $282.25 million. Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities analysts expect that Encore Wire Corporation will post $2.20 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Sidoti Initiates Coverage on Encore Wire Corporation (WIRE)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/19/sidoti-initiates-coverage-on-encore-wire-corporation-wire.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Encore Wire Corporation by 52,370.3% during the first quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock valued at $116,433,000 after purchasing an additional 2,526,343 shares during the period. Vanguard Group Inc. increased its position in shares of Encore Wire Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock valued at $78,294,000 after purchasing an additional 50,586 shares during the period. Hodges Capital Management Inc. increased its position in shares of Encore Wire Corporation by 4.7% during the second quarter. Hodges Capital Management Inc. now owns 1,056,084 shares of the electronics maker’s stock valued at $45,095,000 after purchasing an additional 47,438 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Encore Wire Corporation during the second quarter valued at approximately $40,287,000. Finally, Royce & Associates LP increased its position in shares of Encore Wire Corporation by 1.9% during the second quarter. Royce & Associates LP now owns 701,370 shares of the electronics maker’s stock valued at $29,948,000 after purchasing an additional 13,191 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.

About Encore Wire Corporation

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Compa

Other research analysts also recently issued reports about the company. TheStreet downgraded Encore Wire Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded Encore Wire Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, BidaskClub downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Encore Wire Corporation (NASDAQ:WIRE) traded up 0.33% during trading on Thursday, hitting $46.25. The stock had a trading volume of 63,535 shares. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75. The company’s 50-day moving average is $44.16 and its 200 day moving average is $42.84. The firm has a market cap of $960.01 million, a PE ratio of 22.90 and a beta of 2.25.

Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.06). The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $282.25 million. Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities analysts expect that Encore Wire Corporation will post $2.20 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Sidoti Initiates Coverage on Encore Wire Corporation (WIRE)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/10/19/sidoti-initiates-coverage-on-encore-wire-corporation-wire.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Encore Wire Corporation by 52,370.3% during the first quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock valued at $116,433,000 after purchasing an additional 2,526,343 shares during the period. Vanguard Group Inc. increased its position in shares of Encore Wire Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock valued at $78,294,000 after purchasing an additional 50,586 shares during the period. Hodges Capital Management Inc. increased its position in shares of Encore Wire Corporation by 4.7% during the second quarter. Hodges Capital Management Inc. now owns 1,056,084 shares of the electronics maker’s stock valued at $45,095,000 after purchasing an additional 47,438 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Encore Wire Corporation during the second quarter valued at approximately $40,287,000. Finally, Royce & Associates LP increased its position in shares of Encore Wire Corporation by 1.9% during the second quarter. Royce & Associates LP now owns 701,370 shares of the electronics maker’s stock valued at $29,948,000 after purchasing an additional 13,191 shares during the period. Institutional investors and hedge funds own 89.13% of the company’s stock.

About Encore Wire Corporation

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

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