Shares of Encore Wire Co. (NASDAQ:WIRE) have been assigned an average rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $64.50.

A number of research firms have commented on WIRE. DA Davidson upped their price target on Encore Wire from $59.00 to $70.00 in a research report on Wednesday, December 30th. Zacks Investment Research raised shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Wednesday, October 28th. Sidoti boosted their price target on shares of Encore Wire from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. BidaskClub raised shares of Encore Wire from a “sell” rating to a “hold” rating in a research note on Saturday, December 12th. Finally, TheStreet raised shares of Encore Wire from a “c+” rating to a “b-” rating in a research note on Friday, November 13th.

WIRE traded down $0.35 during trading on Wednesday, reaching $61.81. 60,837 shares of the company’s stock were exchanged, compared to its average volume of 108,680. Encore Wire has a one year low of $38.01 and a one year high of $63.77. The firm has a fifty day moving average price of $56.86 and a two-hundred day moving average price of $51.36. The stock has a market capitalization of $1.28 billion, a PE ratio of 22.44 and a beta of 1.24.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings results on Sunday, November 1st. The electronics maker reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.27. The company had revenue of $339.70 million for the quarter. Encore Wire had a net margin of 4.91% and a return on equity of 7.43%. As a group, equities research analysts anticipate that Encore Wire will post 2.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, January 1st will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, December 30th. This represents a $0.08 annualized dividend and a yield of 0.13%. Encore Wire’s dividend payout ratio is currently 2.89%.

Several institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its position in shares of Encore Wire by 1.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 241,764 shares of the electronics maker’s stock worth $11,223,000 after buying an additional 3,304 shares during the period. Morgan Stanley boosted its position in shares of Encore Wire by 52.3% during the 3rd quarter. Morgan Stanley now owns 183,480 shares of the electronics maker’s stock worth $8,517,000 after purchasing an additional 62,986 shares in the last quarter. Royce & Associates LP grew its stake in shares of Encore Wire by 17.7% in the 3rd quarter. Royce & Associates LP now owns 155,964 shares of the electronics maker’s stock valued at $7,240,000 after buying an additional 23,492 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Encore Wire by 88.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 141,167 shares of the electronics maker’s stock valued at $6,553,000 after buying an additional 66,284 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Encore Wire by 14.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 113,203 shares of the electronics maker’s stock worth $5,526,000 after buying an additional 14,537 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Encore Wire Company Profile

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables that are metal-clad and armored cables for use 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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