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What should you know before buying stock in Encore Wire Corporation (WIRE)

Encore Wire Corporation (NASDAQ: WIRE) is -15.60% lower on its value in year-to-date trading and has touched a low of $77.98 and a high of $151.64 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WIRE stock was last observed hovering at around $138.23 in the last trading session, with the day’s loss setting it -17.45% off its average median price target of $195.50 for the next 12 months. It is also 39.91% off the consensus price target high of $201.00 offered by 2 analysts, but current levels are 36.43% higher than the price target low of $190.00 for the same period.

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Currently trading at $120.78, the stock is 6.81% and 2.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.75 million and changing -12.62% at the moment leaves the stock -1.47% off its SMA200. WIRE registered 54.13% gain for a year compared to 6-month loss of 7.18%. The firm has a 50-day simple moving average (SMA 50) of $0.73 and a 200-day simple moving average (SMA200) of $2.38.

The stock witnessed a 18.28% gain in the last 1 month and extending the period to 3 months gives it a 2.88%, and is -1.40% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.99% over the week and 5.08% over the month.

Encore Wire Corporation (WIRE) has around 1440 employees, a market worth around $2.19B and $2.97B in sales. Current P/E ratio is 3.54 and Fwd P/E is 7.77. Profit margin for the company is 23.20%. Distance from 52-week low is 54.89% and -20.35% from its 52-week high. The company has generated returns on investments over the last 12 months (40.40%).

Encore Wire Corporation (WIRE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Encore Wire Corporation (WIRE) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Encore Wire Corporation is expected to release its quarterly report on 10/25/2022.The EPS is expected to grow by 611.90% this year.

Encore Wire Corporation (WIRE) Top Institutional Holders

The shares outstanding are 19.42M, and float is at 18.37M with Short Float at 10.39%.

Encore Wire Corporation (WIRE) Insider Activity

A total of 4 insider transactions have happened at Encore Wire Corporation (WIRE) in the last six months, with sales accounting for 0 and purchases happening 4 times.

Encore Wire Corporation (WIRE): Who are the competitors?

The company’s main competitors (and peers) include Optical Cable Corporation (OCC) that is trading -17.63% down over the past 12 months and Asia Pacific Wire & Cable Corporation Limited (APWC) that is -63.91% lower over the same period. Belden Inc. (BDC) is 33.25% up on the 1-year trading charts.

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