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Encore Wire (WIRE) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Encore Wire (WIRE - Free Report) closed at $165.37, marking a -0.01% move from the previous day. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.54%.
Heading into today, shares of the copper wire maker had lost 4.23% over the past month, lagging the Industrial Products sector's loss of 0.54% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release.
Investors might also notice recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 7.75. This valuation marks a discount compared to its industry's average Forward P/E of 7.78.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Encore Wire (WIRE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Encore Wire (WIRE - Free Report) closed at $165.37, marking a -0.01% move from the previous day. This move lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.54%.
Heading into today, shares of the copper wire maker had lost 4.23% over the past month, lagging the Industrial Products sector's loss of 0.54% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Encore Wire as it approaches its next earnings release.
Investors might also notice recent changes to analyst estimates for Encore Wire. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Encore Wire is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Encore Wire is currently trading at a Forward P/E ratio of 7.75. This valuation marks a discount compared to its industry's average Forward P/E of 7.78.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.