Encore Wire Corp. PT Raised to $65.00 at Davidson (WIRE)

Investment analysts at Davidson raised their price target on shares of Encore Wire Corp. (NASDAQ:WIRE) from $55.00 to $65.00 in a note issued to investors on Monday, Analyst Ratings News reports. Davidson's target price would suggest a potential upside of 19.11% from the company's current price.

Encore Wire Corp. (NASDAQ:WIRE) opened at 54.57 on Monday. Encore Wire Corp. has a 52 week low of $31.37 and a 52 week high of $54.84. The stock has a 50-day moving average of $50.59 and a 200-day moving average of $43.34. The company has a market cap of $1.129 billion and a P/E ratio of 27.27.

Encore Wire Corp. (NASDAQ:WIRE) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.21. The company had revenue of $309.90 million for the quarter, compared to the consensus estimate of $284.65 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Encore Wire Corp. will post $2.28 EPS for the current fiscal year.

WIRE has been the subject of a number of other recent research reports. Analysts at Jefferson Research downgraded shares of Encore Wire Corp. from a "buy" rating to a "hold" rating in a research note to investors on Friday, January 3rd. Separately, analysts at Zacks downgraded shares of Encore Wire Corp. from an "outperform" rating to a "neutral" rating in a research note to investors on Wednesday, December 25th. They now have a $55.80 price target on the stock. Finally, analysts at Zacks upgraded shares of Encore Wire Corp. from a "neutral" rating to an "outperform" rating in a research note to investors on Friday, October 25th. They now have a $47.20 price target on the stock.

Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.

2014/01/14 08:40:36 Source：Tickerreport

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