Shares of Encore Wire Co. (NASDAQ:WIRE) have received an average broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company. Encore Wire’s rating score has improved by 16.5% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus price objective of $48.25 for the company and are expecting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Encore Wire an industry rank of 74 out of 265 based on the ratings given to related companies.

A number of brokerages have weighed in on WIRE. BidaskClub lowered Encore Wire from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. TheStreet upgraded Encore Wire from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Sidoti began coverage on Encore Wire in a research note on Thursday, October 19th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research lowered Encore Wire from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd.

In other news, insider Matthew D. Ford sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $46.00, for a total value of $46,000.00. Following the completion of the transaction, the insider now directly owns 2,500 shares in the company, valued at approximately $115,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank J. Bilban sold 9,814 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $48.30, for a total value of $474,016.20. Following the completion of the transaction, the vice president now owns 56,934 shares of the company’s stock, valued at $2,749,912.20. The disclosure for this sale can be found here. Insiders sold a total of 46,395 shares of company stock valued at $2,311,704 over the last quarter. Company insiders own 3.79% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its holdings in shares of Encore Wire by 1.6% in the 2nd quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock worth $289,000 after purchasing an additional 104 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Encore Wire by 1.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,974 shares of the electronics maker’s stock worth $426,000 after purchasing an additional 154 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Encore Wire by 8.4% in the 2nd quarter. Voya Investment Management LLC now owns 10,848 shares of the electronics maker’s stock worth $463,000 after purchasing an additional 841 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in shares of Encore Wire by 2.9% in the 4th quarter. First Dallas Securities Inc. now owns 37,252 shares of the electronics maker’s stock worth $1,812,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Encore Wire by 15.3% in the 4th quarter. Foundry Partners LLC now owns 11,540 shares of the electronics maker’s stock worth $561,000 after purchasing an additional 1,535 shares in the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.

Shares of Encore Wire (NASDAQ WIRE) traded up $0.75 during midday trading on Friday, reaching $46.85. The company’s stock had a trading volume of 68,227 shares, compared to its average volume of 68,001. The company has a market cap of $998.09, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.27 and a beta of 2.26. Encore Wire has a fifty-two week low of $37.30 and a fifty-two week high of $52.65.

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Encore Wire Company Profile

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

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