KeyBanc Starts Encore Wire (WIRE) at Hold; Solid Company, But Near-Term Upside May Be Limited
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Price: $35.11 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade WIRE Now!
KeyBanc initiates coverage on Encore Wire (NASDAQ: WIRE) with a Hold.
Analyst, Anthony Kure, said, "Overall, we believe the Company's unique operating model provides distinct advantages in the form of product availability and reliability that help drive market share gains in an industry differentiated
more on price and service vs. product breadth. As construction spending improves in the United States, we believe rational industry pricing should enable WIRE to achieve a more consistent margin performance going forward barring any further instances of distressed competitors. However, we think upside potential and downside risk are essentially balanced at this point given our view that investors have mostly priced in the construction recovery over the last six months, coupled with recent copper price volatility that can significantly impair near-term earnings visibility."
For an analyst ratings summary and ratings history on Encore Wire click here. For more ratings news on Encore Wire click here.
Shares of Encore Wire closed at $28.27 yesterday, with a 52 week range of $19.69-$30.74.
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Analyst, Anthony Kure, said, "Overall, we believe the Company's unique operating model provides distinct advantages in the form of product availability and reliability that help drive market share gains in an industry differentiated
more on price and service vs. product breadth. As construction spending improves in the United States, we believe rational industry pricing should enable WIRE to achieve a more consistent margin performance going forward barring any further instances of distressed competitors. However, we think upside potential and downside risk are essentially balanced at this point given our view that investors have mostly priced in the construction recovery over the last six months, coupled with recent copper price volatility that can significantly impair near-term earnings visibility."
For an analyst ratings summary and ratings history on Encore Wire click here. For more ratings news on Encore Wire click here.
Shares of Encore Wire closed at $28.27 yesterday, with a 52 week range of $19.69-$30.74.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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