Trade Report: The Houston Wire & Cable Co. (HWCC) Upgraded at Zacks Investment Research

The Houston Wire & Cable Co. (HWCC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Houston Wire & Cable Co. (NASDAQ:HWCC) from a strong sell rating to a hold rating in a research report released on Tuesday morning. They currently have $7.00 price objective on the stock.

According to Zacks, “With more than three decades of experience in the electrical industry, HOUSTON WIRE & CABLE COMPANY is one of the largest distributors of specialty wire and cable and related services in the U.S. electrical distribution market. Headquartered in Houston, HWCC has sales and distribution facilities in Atlanta, Baton Rouge, Charlotte, Chicago, Denver, Houston, Los Angeles, Philadelphia, San Francisco, Seattle and Tampa. Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables and private branded products, including LifeGuard, a low-smoke, zero-halogen cable. HWCC’s comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and round-the-clock, throughout-the-year service. “

Houston Wire & Cable Co. (NASDAQ:HWCC) opened at 6.10 on Tuesday. Houston Wire & Cable Co. has a 12 month low of $4.79 and a 12 month high of $7.71. The firm’s market capitalization is $100.47 million. The firm’s 50-day moving average is $5.97 and its 200 day moving average is $5.99.

Houston Wire & Cable Co. (NASDAQ:HWCC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.17. Houston Wire & Cable Co. had a positive return on equity of 0.63% and a negative net margin of 0.82%. The company had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $67.09 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s revenue for the quarter was down 19.8% on a year-over-year basis. On average, analysts expect that Houston Wire & Cable Co. will post ($0.08) EPS for the current fiscal year.

Several large investors have recently modified their holdings of HWCC. Isthmus Partners LLC raised its stake in shares of Houston Wire & Cable Co. by 1.6% in the second quarter. Isthmus Partners LLC now owns 74,757 shares of the company’s stock valued at $392,000 after buying an additional 1,212 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Houston Wire & Cable Co. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 453,029 shares of the company’s stock valued at $2,378,000 after buying an additional 1,267 shares during the period. Algert Global LLC increased its position in Houston Wire & Cable Co. by 10.6% in the second quarter. Algert Global LLC now owns 49,715 shares of the company’s stock valued at $261,000 after buying an additional 4,754 shares during the period. Bank of New York Mellon Corp increased its position in Houston Wire & Cable Co. by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 273,384 shares of the company’s stock valued at $1,435,000 after buying an additional 5,770 shares during the period. Finally, Acadian Asset Management LLC increased its position in Houston Wire & Cable Co. by 13.3% in the second quarter. Acadian Asset Management LLC now owns 86,318 shares of the company’s stock valued at $454,000 after buying an additional 10,145 shares during the period. Institutional investors own 69.41% of the company’s stock.

Houston Wire & Cable Co. Company Profile

Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.

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