Encore Wire Reaches New 52-Week High (WIRE)

NEW YORK ( TheStreet) -- Encore Wire Corporation (Nasdaq: WIRE) hit a new 52-week high Tuesday as it is currently trading at $30.66, above its previous 52-week high of $30.62 with 3,400 shares traded as of 9:49 a.m. ET. Average volume has been 78,700 shares over the past 30 days.

Encore Wire has a market cap of $637 million and is part of the technology sector and electronics industry. Shares are up 17.9% year to date as of the close of trading on Monday.

Encore Wire Corporation manufactures and sells copper electrical building wires and cables primarily in the United States. The company has a P/E ratio of 13.8, below the average electronics industry P/E ratio of 16.5 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Encore Wire as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Encore Wire Ratings Report.

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