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

Encore Wire (NASDAQ:WIREGet Free Report) 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.

Read Our Latest Report on Encore Wire

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

(Get Free Report)

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.

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