Alert: Positive Investment/Fundamental Signals (12/15/23)-Encore Wire Corp (NASDAQ: WIRE)


Encore Wire Corp (NASDAQ: WIRE) has benefited from exceptional positive changes in investment behavior: positive upside/downside volume developed, its longer term price trend turned up, and the stock rose on very heavy volume.

Recent moderate positive changes in fundamentals have benefitted Encore Wire Corp (NASDAQ: WIRE). Positive developments: significant quarterly earnings acceleration occurred, and the stock’s power rating rose above 70. Negative development: significant quarterly sales deceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

WIRE’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.

Encore Wire has a current Value Trend Rating of A (Highest Rating). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. Encore Wire has a good Power Rating of 72 and a good Appreciation Score of 77, and the Highest Value Trend Rating results.

Recent Price Action

On 12/15/23, Encore Wire Corp (NASDAQ: WIRE) stock rose modestly by 0.6%, closing at $211.30. Moreover, exceptionally high trading volume at 529% of normal accompanied the advance. Relative to the market the stock has been strong over the last nine months and has risen 10.9% during the last week.

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