Houston Wire & Cable Company (HWCC) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Houston Wire & Cable Company (NASDAQ:HWCC) from a sell rating to a hold rating in a research report released on Wednesday morning.

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. “

Several other equities analysts also recently commented on HWCC. ValuEngine downgraded Houston Wire & Cable from a hold rating to a sell rating in a research note on Wednesday, June 28th. TheStreet downgraded Houston Wire & Cable from a c- rating to a d+ rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $8.00.

Houston Wire & Cable (NASDAQ:HWCC) traded down 3.81% during mid-day trading on Wednesday, hitting $5.05. The stock had a trading volume of 133,816 shares. Houston Wire & Cable has a 1-year low of $4.70 and a 1-year high of $8.05. The stock’s market cap is $83.26 million. The firm’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.88.

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In related news, Director Roy W. Haley bought 10,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $48,700. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

Several large investors have recently bought and sold shares of HWCC. Russell Investments Group Ltd. lifted its position in shares of Houston Wire & Cable by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 18,872 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 1,872 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Houston Wire & Cable by 41.0% during the first quarter. Ameriprise Financial Inc. now owns 544,011 shares of the industrial products company’s stock worth $3,673,000 after acquiring an additional 158,103 shares in the last quarter. FMR LLC lifted its position in shares of Houston Wire & Cable by 4.6% during the first quarter. FMR LLC now owns 1,523,188 shares of the industrial products company’s stock worth $10,282,000 after acquiring an additional 67,005 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Houston Wire & Cable by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 987,879 shares of the industrial products company’s stock worth $6,668,000 after acquiring an additional 18,110 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Houston Wire & Cable by 26.9% during the first quarter. UBS Group AG now owns 34,896 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 7,398 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Houston Wire & Cable 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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