Encore Wire (NASDAQ:WIRE) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Encore Wire (NASDAQ:WIRE - Get Free Report) in a report issued on Sunday. The brokerage set a "hold" rating on the electronics maker's stock.

Several other equities research analysts have also commented on the stock. DA Davidson lowered Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 target price for the company. in a research report on Tuesday, April 16th. Sidoti reaffirmed a "neutral" rating and issued a $290.00 price objective on shares of Encore Wire in a research report on Tuesday, April 16th. Finally, CJS Securities reissued a "market perform" rating on shares of Encore Wire in a research report on Friday, April 19th.

Encore Wire Price Performance

Shares of Encore Wire stock traded down $1.43 on Friday, hitting $280.57. 254,820 shares of the company's stock traded hands, compared to its average volume of 255,075. Encore Wire has a one year low of $150.51 and a one year high of $295.90. The company has a fifty day moving average of $265.85 and a two-hundred day moving average of $230.76. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 14.88 and a beta of 1.28.

Encore Wire (NASDAQ:WIRE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.65 by $0.27. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm had revenue of $632.66 million during the quarter, compared to analysts' expectations of $579.64 million. During the same quarter last year, the firm posted $6.50 earnings per share. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Encore Wire will post 21.24 earnings per share for the current year.

Hedge Funds Weigh In On Encore Wire

Several hedge funds and other institutional investors have recently modified their holdings of WIRE. Yaupon Capital Management LP bought a new position in shares of Encore Wire in the 1st quarter worth about $6,675,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Encore Wire by 5.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 15,084 shares of the electronics maker's stock valued at $3,964,000 after purchasing an additional 840 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Encore Wire by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,295 shares of the electronics maker's stock valued at $2,706,000 after purchasing an additional 558 shares in the last quarter. BOKF NA lifted its holdings in shares of Encore Wire by 78.2% during the first quarter. BOKF NA now owns 1,652 shares of the electronics maker's stock valued at $442,000 after purchasing an additional 725 shares during the last quarter. Finally, Hyperion Capital Advisors LP bought a new stake in shares of Encore Wire in the 1st quarter worth approximately $247,000. Hedge funds and other institutional investors own 99.82% of the company's stock.

About Encore Wire

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.