Encore Wire (NASDAQ:WIRE) Downgraded by StockNews.com to Hold

Encore Wire (NASDAQ:WIRE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities analysts also recently commented on WIRE. CJS Securities started coverage on Encore Wire in a research report on Wednesday, October 11th. They set an “outperform” rating and a $235.00 target price for the company. DA Davidson decreased their target price on Encore Wire from $250.00 to $240.00 in a research note on Thursday, July 27th.

Encore Wire Stock Up 0.0 %

WIRE opened at $178.89 on Thursday. Encore Wire has a 12-month low of $130.52 and a 12-month high of $206.74. The firm has a market capitalization of $2.82 billion, a P/E ratio of 6.99 and a beta of 1.28. The stock’s 50 day moving average price is $174.36 and its two-hundred day moving average price is $171.30.

Institutional Trading of Encore Wire

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Holdings LLC acquired a new stake in shares of Encore Wire in the 1st quarter valued at $37,000. Dark Forest Capital Management LP acquired a new stake in shares of Encore Wire in the 1st quarter valued at about $66,000. IFP Advisors Inc grew its stake in shares of Encore Wire by 231.5% in the 2nd quarter. IFP Advisors Inc now owns 358 shares of the electronics maker’s stock valued at $67,000 after buying an additional 250 shares during the period. Federated Hermes Inc. boosted its stake in Encore Wire by 33.8% during the 1st quarter. Federated Hermes Inc. now owns 368 shares of the electronics maker’s stock valued at $68,000 after purchasing an additional 93 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in shares of Encore Wire during the 1st quarter worth approximately $75,000. Institutional investors own 99.82% of the company’s stock.

About Encore Wire

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. The company offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.