Houston Wire & Cable Company (HWCC) Rating Increased to Hold at Zacks Investment Research

Houston Wire & Cable Company (NASDAQ:HWCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Several other equities analysts have also weighed in on the stock. TheStreet lowered shares of Houston Wire & Cable from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. ValuEngine lowered shares of Houston Wire & Cable from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

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In other news, Director Roy W. Haley acquired 10,000 shares of Houston Wire & Cable stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $48,700. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Isthmus Partners LLC lifted its holdings in shares of Houston Wire & Cable by 0.6% in the second quarter. Isthmus Partners LLC now owns 84,023 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 497 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Houston Wire & Cable by 2.4% in the second quarter. Northern Trust Corp now owns 49,933 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 1,172 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Houston Wire & Cable by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 18,872 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 1,872 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Houston Wire & Cable by 2.3% in the first quarter. Renaissance Technologies LLC now owns 97,400 shares of the industrial products company’s stock worth $657,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Houston Wire & Cable by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 93,518 shares of the industrial products company’s stock worth $631,000 after acquiring an additional 3,178 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

About Houston Wire & Cable

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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