Global Hunter Securities Upgrades Encore Wire Corp to Buy (WIRE)
Encore Wire Corp (NASDAQ: WIRE) was upgraded by equities research analysts at Global Hunter Securities from an “accumulate” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $31.00 price target on the stock.
Separately, analysts at KeyBanc (NYSE: KEY) initiated coverage on shares of Encore Wire Corp in a research note to investors on Tuesday, April 17th. They set a “hold” rating on the stock.
Encore Wire Corp traded down 0.12% on Wednesday, hitting $24.96. Encore Wire Corp has a 52-week low of $19.69 and a 52-week high of $30.74. The company has a market cap of $584.8 million and a price-to-earnings ratio of 12.69.
Encore Wire Corp last posted its quarterly earnings results on Tuesday, February 21st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.45. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts expect that Encore Wire Corp will post $0.58 EPS next quarter.
Encore Wire Corporation (Encore) is a manufacturer of copper electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in homes, apartments, manufactured housing, and in commercial and industrial buildings.