Encore Wire Corporation (WIRE) is Downgraded by Sidoti to Neutral, Lowers Price Target to $ 44

Encore Wire Corporation (WIRE) was Downgraded by Sidoti to ” Neutral” while Lowering the Price Target of the company shares to $ 44 from a previous price target of $46 . Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on Encore Wire Corporation. Singular Research Initiated Encore Wire Corporation on May 31, 2016 to “Buy”, Price Target of the shares are set at $47.

On the company’s financial health, Encore Wire Corporation reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.57. The company had revenue of $238.80 million for the quarter, compared to analysts expectations of $241.88 million. The company’s revenue was down -5.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Encore Wire Corporation closed down -4.94 points or -11.36% at $38.54 with 6,45,359 shares getting traded on Thursday. Post opening the session at $42.49, the shares hit an intraday low of $38.05 and an intraday high of $42.49 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Aug 10, 2015, Gregory J Fisher (director) purchased 1,500 shares at $33.30 per share price. According to the SEC, on Aug 7, 2015, Donald Eugene Courtney (director) purchased 5,000 shares at $33.00 per share price. On Mar 3, 2015, William R Iii Thomas (director) purchased 1,000 shares at $37.24 per share price, according to the Form-4 filing with the securities and exchange commission.

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 offers an electrical building wire product line that consists primarily of NM-B cable UF-B cable THHN/THWN-2 and other types of wire products including metal clad and armored cable. All of these products are manufactured with copper or aluminum as the conductor. The principal bases for differentiation among stock-keeping units (SKUs) are product type conductor type diameter insulation color and packaging.

Encore Wire Corporation

Leave a Reply

Encore Wire Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Encore Wire Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.