Houston Wire & Cable (HWCC) Downgraded by Zacks Investment Research to “Hold”

Houston Wire & Cable (NASDAQ:HWCC) was downgraded by Zacks Investment Research from a “strong-buy” 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 research analysts have also recently weighed in on HWCC. ValuEngine raised Houston Wire & Cable from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. TheStreet raised Houston Wire & Cable from a “d+” rating to a “c-” rating in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Houston Wire & Cable presently has a consensus rating of “Buy” and a consensus price target of $7.50.

Houston Wire & Cable (NASDAQ:HWCC) opened at $7.00 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.60 and a quick ratio of 2.39. Houston Wire & Cable has a 1 year low of $4.70 and a 1 year high of $8.05. The firm has a market capitalization of $117.19, a price-to-earnings ratio of -28.00 and a beta of 1.63.

Houston Wire & Cable (NASDAQ:HWCC) last posted its quarterly earnings data on Thursday, November 9th. The industrial products company reported $0.06 earnings per share for the quarter. Houston Wire & Cable had a negative return on equity of 0.86% and a negative net margin of 1.33%. The business had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $77.60 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. equities analysts expect that Houston Wire & Cable will post 0.09 EPS for the current year.

In other news, Director Mark A. Ruelle bought 12,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $6.20 per share, for a total transaction of $74,400.00. Following the completion of the purchase, the director now directly owns 12,000 shares in the company, valued at approximately $74,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Isthmus Partners LLC raised its stake 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 valued at $437,000 after buying an additional 497 shares during the period. Northern Trust Corp raised its stake 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 valued at $260,000 after buying an additional 1,172 shares during the period. Pekin Singer Strauss Asset Management IL raised its stake in shares of Houston Wire & Cable by 150.0% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 25,000 shares of the industrial products company’s stock valued at $131,000 after buying an additional 15,000 shares during the period. Rutabaga Capital Management LLC MA raised its stake in shares of Houston Wire & Cable by 2.2% in the second quarter. Rutabaga Capital Management LLC MA now owns 1,518,044 shares of the industrial products company’s stock valued at $7,894,000 after buying an additional 32,283 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Houston Wire & Cable by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,022,937 shares of the industrial products company’s stock valued at $5,370,000 after buying an additional 35,058 shares during the period. Hedge funds and other institutional investors own 65.81% of the company’s stock.

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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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