Houston Wire & Cable Co. (HWCC) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Houston Wire & Cable Co. (NASDAQ:HWCC) from a strong sell rating to a hold rating in a report published on Tuesday morning. They currently have $7.00 target price on the stock.
According to Zacks, “With more than three decades of experience in the electrical industry, HOUSTON WIRE & CABLE COMPANY is one of the largest distributors of specialty wire and cable and related services in the U.S. electrical distribution market. Headquartered in Houston, HWCC has sales and distribution facilities in Atlanta, Baton Rouge, Charlotte, Chicago, Denver, Houston, Los Angeles, Philadelphia, San Francisco, Seattle and Tampa. Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables and private branded products, including LifeGuard, a low-smoke, zero-halogen cable. HWCC’s comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and round-the-clock, throughout-the-year service. “
Houston Wire & Cable Co. (NASDAQ:HWCC) traded down 0.81% on Tuesday, hitting $6.15. The stock had a trading volume of 247 shares. Houston Wire & Cable Co. has a 52-week low of $4.79 and a 52-week high of $7.71. The firm’s 50-day moving average is $5.95 and its 200-day moving average is $5.98. The company’s market cap is $101.29 million.
Houston Wire & Cable Co. (NASDAQ:HWCC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.17. The firm had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $67.09 million. Houston Wire & Cable Co. had a positive return on equity of 0.63% and a negative net margin of 0.82%. The business’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Equities research analysts anticipate that Houston Wire & Cable Co. will post ($0.08) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in HWCC. Ancora Advisors LLC raised its position in Houston Wire & Cable Co. by 14.6% in the second quarter. Ancora Advisors LLC now owns 214,297 shares of the company’s stock worth $1,125,000 after buying an additional 27,294 shares in the last quarter. Franklin Resources Inc. raised its position in Houston Wire & Cable Co. by 100.0% in the second quarter. Franklin Resources Inc. now owns 120,000 shares of the company’s stock worth $630,000 after buying an additional 60,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Houston Wire & Cable Co. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 453,029 shares of the company’s stock worth $2,378,000 after buying an additional 1,267 shares in the last quarter. Vanguard Group Inc. raised its position in Houston Wire & Cable Co. by 15.7% in the second quarter. Vanguard Group Inc. now owns 797,207 shares of the company’s stock worth $4,185,000 after buying an additional 108,322 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Houston Wire & Cable Co. by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 957,927 shares of the company’s stock worth $5,029,000 after buying an additional 22,272 shares in the last quarter. 69.41% of the stock is currently owned by hedge funds and other institutional investors.
Houston Wire & Cable Co. Company Profile
Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.
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