Encore Wire Corp. Rating Increased to Buy at DA Davidson

Encore Wire Corp. (NASDAQ:WIRE) was upgraded by investment analysts at DA Davidson from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday, You are not allowed to view links. Register or Login reports.

A number of other analysts have also recently weighed in on WIRE. Analysts at Zacks downgraded shares of Encore Wire Corp. from an "outperform" rating to a "neutral" rating in a research note to investors on Thursday, September 26th. They now have a $44.10 price target on the stock.

Encore Wire Corp. (NASDAQ:WIRE) opened at 41.27 on Wednesday. Encore Wire Corp. has a 1-year low of $28.05 and a 1-year high of $42.48. The stock's 50-day moving average is $39.95 and its 200-day moving average is $35.71. The company has a market cap of $853.2 million and a P/E ratio of 26.19.

Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.45. The company had revenue of $289.50 million for the quarter, compared to the consensus estimate of $252.00 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Encore Wire Corp. will post $1.90 EPS for the current fiscal year.

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

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