At the time of writing, Encore Wire Corp. [WIRE] stock is trading at $284.40, down -0.91%. An important factor to consider is whether the stock is rising or falling in short-term value. The WIRE shares have gain 8.97% over the last week, with a monthly amount glided 19.82%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Encore Wire Corp. [NASDAQ: WIRE] stock has seen the most recent analyst activity on October 11, 2023, when CJS Securities initiated its Market Outperform rating and assigned the stock a price target of $235. Previously, Sidoti downgraded its rating to Neutral on January 21, 2021, and elevated its price target to $65. On November 16, 2020, upgrade upgraded it’s rating to Buy but maintained its price target of $59 on the stock. DA Davidson downgraded its rating to a Neutral but stick to its price target of $56 on April 30, 2020. Sidoti upgraded its rating to a Buy. Sidoti downgraded its rating to Neutral for this stock on February 13, 2019, but kept the price target unchanged to $58. In a note dated December 06, 2017, Sidoti upgraded an Buy rating on this stock.
For the past year, the stock price of Encore Wire Corp. fluctuated between $138.20 and $295.90. Currently, Wall Street analysts expect the stock to reach $295 within the next 12 months. Encore Wire Corp. [NASDAQ: WIRE] shares were valued at $284.40 at the most recent close of the market. An investor can expect a potential return of 3.73% based on the average WIRE price forecast.
Analyzing the WIRE fundamentals
According to Encore Wire Corp. [NASDAQ:WIRE], the company’s sales were 2.57B for trailing twelve months, which represents an -8.66% plunge. Gross Profit Margin for this corporation currently stands at 0.26% with Operating Profit Margin at 0.18%, Pretax Profit Margin comes in at 0.19%, and Net Profit Margin reading is 0.15%. To continue investigating profitability, this company’s Return on Assets is posted at 0.19, Equity is 0.21 and Total Capital is 0.25.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 282.42 points at the first support level, and at 280.44 for the second support level. However, for the 1st resistance point, the stock is sitting at 287.19, and for the 2nd resistance point, it is at 289.98.
Ratios To Look Out For
It is important to note that Encore Wire Corp. [NASDAQ:WIRE] has a current ratio of 7.56. On the other hand, the Quick Ratio is 6.54, and the Cash Ratio is 3.5. Considering the valuation of this stock, the price to sales ratio is 1.75, the price to book ratio is 2.54 and price to earnings (TTM) ratio is 13.26.
