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Encore Wire downgraded to Neutral from Buy at DA Davidson » 07:43
04/30/20
04/30
07:43
04/30/20
07:43
WIRE

Encore Wire

$51.95 /

+4.38 (+9.21%)

DA Davidson analyst Brent…

DA Davidson analyst Brent Thielman downgraded Encore Wire to Neutral from Buy with a price target of $56, down from $60. The analyst notes that while Q1 results saw strong profitability, he is lowering his FY20-21 estimates on expectation of future disruptions to construction end markets. Thielman adds that Encore Wire's 1.5-times tangible book value multiple is appropriate considering the company has no debt, with excess cash and the ability to invest through industry pressures.

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WIRE Encore Wire
$51.95 /

+4.38 (+9.21%)

04/30/20 DA Davidson
Encore Wire downgraded to Neutral from Buy at DA Davidson
06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Downgrade
Encore Wire downgraded to Neutral from Buy at DA Davidson » 07:12
04/30/20
04/30
07:12
04/30/20
07:12
WIRE

Encore Wire

$51.95 /

+4.38 (+9.21%)

DA Davidson analyst Brent…

DA Davidson analyst Brent Thielman downgraded Encore Wire to Neutral from Buy with a $56 price target.

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WIRE Encore Wire
$51.95 /

+4.38 (+9.21%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Hot Stocks
Encore Wire backs FY20-FY22 capex plans » 17:10
04/28/20
04/28
17:10
04/28/20
17:10
WIRE

Encore Wire

$47.57 /

+1.45 (+3.14%)

The company states:…

The company states: "We believe Encore Wire is well positioned to weather the storm, continuing to serve the markets during this critical time. As we navigate the near-term challenges, we remain focused on the long-term opportunities for our business. We also believe our superior order fill rates, which have not faltered during this crisis, continue to enhance our competitive position. As orders come in from electrical contractors, the distributors can continue to count on our order fill rates to ensure quick deliveries from coast to coast. Our balance sheet remains very strong. We have no long-term debt, and our revolving line of credit is paid down to zero. We reaffirm our previously announced capital expenditure ranges for fiscal years 2020 through 2022."

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WIRE Encore Wire
$47.57 /

+1.45 (+3.14%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Earnings
Encore Wire reports Q1 EPS 89c, two estimates 47c » 17:06
04/28/20
04/28
17:06
04/28/20
17:06
WIRE

Encore Wire

$47.57 /

+1.45 (+3.14%)

Reports Q1 revenue…

Reports Q1 revenue $302.8M, two estimates $297.47M. CEO Daniel Jones says: "The strong earnings posted in the first quarter ended March 31, 2020 evidence the strength of our balance sheet and the resiliency of our business model to weather tough times. I'm very pleased by our first quarter results despite the unprecedented times we are facing in this country. There are some key items to note. Copper unit volumes increased 1.0% in the first quarter of 2020 versus the first quarter of 2019 and increased 1.4% on a sequential quarter basis. Gross profit margins increased despite a drop in Comex copper prices versus last year's first quarter as well as versus the fourth quarter of 2019. One of the key metrics to our earnings is the "spread" between the price of copper wire sold and the cost of raw copper purchased in any given period. The copper spread increased 6.0% on a sequential quarter comparison. I'm particularly pleased with how we finished the first quarter. Despite a significant decrease in Comex copper daily prices in March, we were able to maintain average selling prices in the month which lifted gross profit margins for the quarter. This represented a slight shift to a seller's market as some manufacturing and distribution constraints in the sector kept pricing strong. Finally, aluminum wire represented 8.6% of our net sales in the first quarter of 2020."

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WIRE Encore Wire
$47.57 /

+1.45 (+3.14%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Over a month ago
Conference/Events
Encore Wire participates in a conference call hosted by Sidoti » 04:55
04/09/20
04/09
04:55
04/09/20
04:55
WIRE

Encore Wire

$43.60 /

+1.79 (+4.28%)

Conference call with…

Conference call with management to be held on April 9 hosted by Sidoti.

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WIRE Encore Wire
$43.60 /

+1.79 (+4.28%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Conference/Events
Encore Wire participates in a conference call hosted by Sidoti » 09:25
04/08/20
04/08
09:25
04/08/20
09:25
WIRE

Encore Wire

$41.81 /

+0.25 (+0.60%)

Conference call with…

Conference call with management to be held on April 9 hosted by Sidoti.

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WIRE Encore Wire
$41.81 /

+0.25 (+0.60%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Over a quarter ago
Hot Stocks
Encore Wire says expansion plans to proceed in two phases » 16:23
02/18/20
02/18
16:23
02/18/20
16:23
WIRE

Encore Wire

$56.25 /

-0.35 (-0.62%)

Daniel Jones, Chairman,…

Daniel Jones, Chairman, President and CEO of Encore Wire Corporation, said, "This is an exciting time for Encore's employees, customers and stakeholders. We've been under construction since inception and we continue to grow today. Our two-phase expansion plans will extend our reach and increase manufacturing capacity to meet the growing needs of our customers. We anticipate total capital expenditures to range from $85 - $95 million in 2020, $70 - $90 million in 2021, and $60 - $80 million in 2022. Our strong balance sheet and ability to consistently generate high levels of operating cash flow should provide ample allowance to fund planned capital expenditures." Phase one will begin late in the first quarter of 2020 with the construction of a new 720,000 square foot facility located at the north end of our existing campus. This facility will act as a service center, modernizing logistics to allow for increased throughput and provide the bandwidth necessary to capture incremental sales volumes. "Phase one will allow us to compete at a higher level in the marketplace while further strengthening our industry-leading customer service and order fill rates. We expect to complete construction in the second quarter of 2021. Phase two of our expansion plans will commence following phase one and will focus on repurposing our existing distribution center to expand manufacturing capacity significantly and extend our market reach. Phase two completion is anticipated in 2022," the company added.

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WIRE Encore Wire
$56.25 /

-0.35 (-0.62%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Earnings
Encore Wire reports Q4 EPS 50c, two estimates 82c » 16:21
02/18/20
02/18
16:21
02/18/20
16:21
WIRE

Encore Wire

$56.25 /

-0.35 (-0.62%)

Reports Q4 revenue…

Reports Q4 revenue $302.3M, two estimates $308.3M. Copper unit volume, measured in pounds of copper contained in the wire sold, decreased 1.6% in the fourth quarter of 2019 versus the fourth quarter of 2018. The average selling price of wire per copper pound sold decreased 5.8% in the fourth quarter of 2019 versus the fourth quarter of 2018.

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WIRE Encore Wire
$56.25 /

-0.35 (-0.62%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
Earnings
Encore Wire reports Q3 EPS 78c, consensus $1.01 » 16:21
10/28/19
10/28
16:21
10/28/19
16:21
WIRE

Encore Wire

$59.17 /

-1.32 (-2.18%)

Reports Q3 revenue…

Reports Q3 revenue $321.2M, consensus $347.15M. The company said, "Our business remains strong as evidenced by our results in the third quarter and nine months ended September 30. There are some key items to note. Unit volumes increased in the third quarter and year to date comparisons of 2019 to 2018. Copper unit volumes increased 0.2% in the third quarter of 2019 versus the third quarter of 2018, and increased 6.0% in the nine month comparison. The unit volume increase was achieved even though we passed on orders that did not meet our margin targets. Despite the strong U.S. construction market and demand for building wire, margins were restrained by competitive pricing in the third quarter of 2019 versus the third quarter of 2018. Gross profit margins fell in concert with a drop in copper prices versus last year's third quarter and first nine months, along with the competitive pressure noted above. One of the key metrics to our earnings is the "spread" between the price of copper wire sold and the cost of raw copper purchased in any given period. The copper spread decreased 9.0% in the third quarter of 2019 versus the third quarter of 2018, while decreasing 2.8% in the nine month comparison. The copper spread also decreased 3.0% on a sequential quarter comparison. The copper spread contracted 9.0% as the average price of copper purchased decreased 4.2% in the third quarter of 2019 versus the third quarter of 2018, while the average selling price of wire sold decreased 5.9%. It should be noted that the spreads in the third quarter of 2018 were the highest in over a decade. However, we believe that the currently strong end markets can support those margin levels. In aluminum wire, which represented 7.7% of our net sales in the third quarter of 2019, we continue to enforce our rights under the U.S. trade remedy laws. On October 18, 2019, the U.S. Commerce Department signed its final antidumping and countervailing duty determinations, resulting in combined AD/CVD duty rates ranging from 81.27 to 218.42 percent for aluminum wire and cable imported from China. The final step in these investigations is a vote from the U.S. International Trade Commission, which is not expected until approximately November 20, 2019."

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WIRE Encore Wire
$59.17 /

-1.32 (-2.18%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
02/13/19 Sidoti
Encore Wire downgraded to Neutral from Buy at Sidoti
12/04/18 DA Davidson
Encore Wire sees positive industry trend and market conditions, says DA Davidson
Conference/Events
DA Davidson to hold a conference » 04:55
09/19/19
09/19
04:55
09/19/19
04:55
MGRC

McGrath RentCorp

$67.69 /

-0.63 (-0.92%)

, MTZ

MasTec

$64.80 /

-0.54 (-0.83%)

, HI

Hillenbrand

$31.06 /

-0.42 (-1.33%)

, MINI

Mobile Mini

$34.20 /

-1.03 (-2.92%)

, MTRX

Matrix Service

$18.35 /

-0.41 (-2.19%)

, MEI

Methode Electronics

$34.95 /

-0.165 (-0.47%)

, AZZ

AZZ Inc.

$43.49 /

-0.58 (-1.32%)

, AEGN

Aegion

$20.74 /

-0.49 (-2.31%)

, MYRG

MYR Group

$31.87 /

-0.53 (-1.64%)

, TREX

Trex Company

$86.87 /

-0.75 (-0.86%)

, WIRE

Encore Wire

$57.60 /

-2.41 (-4.02%)

18th Annual Diversified…

18th Annual Diversified Industrials & Services Conference will be held in Chicago on September 18-19.

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MGRC McGrath RentCorp
$67.69 /

-0.63 (-0.92%)

09/19/18 Berenberg
McGrath RentCorp initiated with a Buy at Berenberg
MTZ MasTec
$64.80 /

-0.54 (-0.83%)

09/04/19 Barclays
MasTec price target raised to $70 from $60 at Barclays
08/05/19 DA Davidson
MasTec price target raised to $70 from $60 at DA Davidson
08/05/19 Craig-Hallum
MasTec price target raised to $76 from $69 at Craig-Hallum
08/05/19 Credit Suisse
MasTec price target raised to $68 from $62 at Credit Suisse
HI Hillenbrand
$31.06 /

-0.42 (-1.33%)

07/31/19 Baird
Milacron downgraded to Neutral at Baird
07/15/19
Fly Intel: Top five analyst upgrades
07/15/19 DA Davidson
Hillenbrand upgraded to Buy from Neutral at DA Davidson
05/21/19
Fly Intel: Top five analyst initiations
MINI Mobile Mini
$34.20 /

-1.03 (-2.92%)

08/22/19
Fly Intel: Top five analyst initiations
08/21/19 Stifel
Mobile Mini initiated with a Buy at Stifel
02/04/19 Oppenheimer
Mobile Mini price target lowered to $40 from $47 at Oppenheimer
10/22/18 Needham
Mobile Mini price target raised to $55 from $50 at Needham
MTRX Matrix Service
$18.35 /

-0.41 (-2.19%)

08/07/19
Matrix Service upgraded to Buy from Neutral at DA Davidson
08/07/19 DA Davidson
Matrix Service upgraded to Buy from Neutral at DA Davidson
03/13/19 DA Davidson
Matrix Service initiated with a Neutral at DA Davidson
MEI Methode Electronics
$34.95 /

-0.165 (-0.47%)

08/27/19 Baird
Methode Electronics shares appear mispriced ahead of earnings, says Baird
03/08/19 Craig-Hallum
Methode Electronics upgraded to Buy from Hold at Craig-Hallum
03/08/19 Craig-Hallum
Methode Electronics upgraded to Buy from Hold at Craig-Hallum
12/07/18 Craig-Hallum
Methode Electronics price target cut to $25 from $40 at Craig-Hallum
AZZ AZZ Inc.
$43.49 /

-0.58 (-1.32%)

10/29/18 Sidoti
AZZ Inc. upgraded to Buy from Neutral at Sidoti
AEGN Aegion
$20.74 /

-0.49 (-2.31%)

01/08/19 Maxim
Aegion initiated with a Hold at Maxim
01/07/19 Maxim
Aegion initiated with a Hold at Maxim
11/01/18
On The Fly: Top five analyst downgrades
11/01/18 Canaccord
Aegion downgraded to Hold from Buy at Canaccord
MYRG MYR Group
$31.87 /

-0.53 (-1.64%)

09/11/19 Baird
MYR Group upgraded to Outperform from Neutral at Baird
05/16/19
Fly Intel: Top five analyst upgrades
05/16/19 Stifel
MYR Group upgraded to Buy from Hold at Stifel
TREX Trex Company
$86.87 /

-0.75 (-0.86%)

08/29/19 DA Davidson
Trex Company price target raised to $96 from $87 at DA Davidson
08/22/19 William Blair
William Blair starts 'No. 1 composite decking' brand Trex at Outperform
08/22/19 William Blair
Trex Company initiated with an Outperform at William Blair
WIRE Encore Wire
$57.60 /

-2.41 (-4.02%)

06/03/19 Sidoti
Encore Wire upgraded to Buy from Neutral at Sidoti
02/13/19 Sidoti
Encore Wire downgraded to Neutral from Buy at Sidoti
12/04/18 DA Davidson
Encore Wire sees positive industry trend and market conditions, says DA Davidson

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