Encore Wire’s (WIRE) Neutral Rating Reiterated at Sidoti

Sidoti reaffirmed their neutral rating on shares of Encore Wire (NASDAQ:WIRE) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $290.00 target price on the electronics maker’s stock.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Encore Wire from a buy rating to a hold rating in a research note on Friday, March 22nd. DA Davidson cut Encore Wire from a buy rating to a neutral rating and set a $295.00 target price on the stock. in a research report on Tuesday.

Encore Wire Price Performance

Shares of NASDAQ WIRE opened at $287.00 on Tuesday. The business has a 50-day moving average of $242.95 and a two-hundred day moving average of $214.48. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 13.39 and a beta of 1.31. Encore Wire has a 1 year low of $138.20 and a 1 year high of $295.90.

Encore Wire (NASDAQ:WIRE) last posted its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.05. The firm had revenue of $633.78 million during the quarter, compared to analysts’ expectations of $601.48 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.28 earnings per share. As a group, equities research analysts expect that Encore Wire will post 16.52 earnings per share for the current year.

Encore Wire Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be given a $0.02 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.08 annualized dividend and a yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is 0.37%.

Institutional Investors Weigh In On Encore Wire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in shares of Encore Wire by 69.2% in the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 83 shares during the period. Dark Forest Capital Management LP acquired a new stake in Encore Wire in the first quarter valued at about $66,000. IFP Advisors Inc boosted its holdings in 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 purchasing an additional 250 shares in the last quarter. Quest Partners LLC acquired a new position in Encore Wire during the 4th quarter worth approximately $80,000. Finally, Advisory Services Network LLC purchased a new position in shares of Encore Wire during the 4th quarter worth approximately $88,000. 99.82% of the stock is owned by hedge funds and other institutional investors.

Encore Wire Company Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It 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.