Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

Encore Wire Co. (NASDAQ:WIRE - Get Rating) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,310,000 shares, a growth of 20.9% from the July 15th total of 1,910,000 shares. Based on an average trading volume of 263,500 shares, the short-interest ratio is currently 8.8 days. Currently, 12.6% of the company's stock are sold short. Encore Wire Stock Performance

WIRE opened at $131.04 on Friday. Encore Wire has a fifty-two week low of $82.00 and a fifty-two week high of $151.64. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 3.84 and a beta of 1.27. The company has a fifty day moving average of $116.50 and a two-hundred day moving average of $117.45.

Encore Wire (NASDAQ:WIRE - Get Rating) last released its earnings results on Monday, July 25th. The electronics maker reported $10.71 EPS for the quarter, topping the consensus estimate of $5.14 by $5.57. Encore Wire had a net margin of 23.24% and a return on equity of 49.46%. The company had revenue of $838.20 million during the quarter, compared to analysts' expectations of $727.08 million. During the same quarter last year, the business earned $8.82 EPS. The business's revenue was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that Encore Wire will post 26.86 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, October 21st. Shareholders of record on Friday, October 7th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.06%. Encore Wire's dividend payout ratio (DPR) is 0.23%. Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson upped their price objective on Encore Wire from $175.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, July 27th. StockNews.com upgraded Encore Wire from a "hold" rating to a "buy" rating in a research note on Wednesday, May 18th.Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brandywine Global Investment Management LLC lifted its position in shares of Encore Wire by 108.9% during the second quarter. Brandywine Global Investment Management LLC now owns 49,592 shares of the electronics maker's stock worth $5,154,000 after purchasing an additional 25,850 shares in the last quarter. Rhumbline Advisers grew its position in shares of Encore Wire by 0.9% during the second quarter. Rhumbline Advisers now owns 61,137 shares of the electronics maker's stock worth $6,353,000 after acquiring an additional 552 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in Encore Wire in the second quarter worth about $922,000. FORA Capital LLC lifted its holdings in Encore Wire by 23.1% in the 2nd quarter. FORA Capital LLC now owns 2,845 shares of the electronics maker's stock valued at $296,000 after acquiring an additional 533 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Encore Wire during the second quarter valued at about $1,143,000. 90.89% of the stock is owned by institutional investors and hedge funds. Encore Wire Company Profile (Get Rating)

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products.Read MoreGet a free copy of the StockNews.com research report on Encore Wire (WIRE)MarketBeat: Week in Review 8/8 - 8/122 Important Retail Stock Battles to WatchWhat Is WallStreetBets and What Stocks Are They Targeting?Institutions And Analysts Propel Jack In The Box Higher Can You Guess Which EV Stock Is Beating Tesla ?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Encore Wire, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Encore Wire wasn't on the list.

While Encore Wire currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

What investors can learn from studying the past, as well as offering some ideas about asset classes with future potential.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.