Houston Wire & Cable Company (HWCC) Receives $7.50 Average Price Target from Brokerages

Shares of Houston Wire & Cable Company (NASDAQ:HWCC) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.50.

Several equities analysts have commented on the company. TheStreet lowered Houston Wire & Cable from a “c-” rating to a “d+” rating in a research report on Tuesday, August 15th. Zacks Investment Research lowered Houston Wire & Cable from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, ValuEngine raised Houston Wire & Cable from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st.

Shares of Houston Wire & Cable (NASDAQ HWCC) remained flat at $$6.45 during trading on Friday. 23,200 shares of the company’s stock were exchanged, compared to its average volume of 41,008. The company has a current ratio of 5.60, a quick ratio of 2.39 and a debt-to-equity ratio of 0.82. Houston Wire & Cable has a 52-week low of $4.70 and a 52-week high of $8.05.

Houston Wire & Cable (NASDAQ:HWCC) last announced its quarterly earnings data on Thursday, November 9th. The industrial products company reported $0.06 EPS for the quarter. The business had revenue of $81.20 million during the quarter, compared to analyst estimates of $77.60 million. Houston Wire & Cable had a negative return on equity of 0.86% and a negative net margin of 1.33%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. equities research analysts forecast that Houston Wire & Cable will post 0.09 EPS for the current fiscal year.

In other news, Director Mark A. Ruelle acquired 12,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $6.20 per share, with a total value of $74,400.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $74,400. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Isthmus Partners LLC raised its position in shares of Houston Wire & Cable by 0.6% in the 2nd quarter. Isthmus Partners LLC now owns 84,023 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 497 shares during the last quarter. Northern Trust Corp raised its position in shares of Houston Wire & Cable by 2.4% in the 2nd quarter. Northern Trust Corp now owns 49,933 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 1,172 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Houston Wire & Cable by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 97,400 shares of the industrial products company’s stock worth $657,000 after purchasing an additional 2,200 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Houston Wire & Cable by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 93,518 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 3,178 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Houston Wire & Cable by 26.9% in the 1st quarter. UBS Group AG now owns 34,896 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 7,398 shares during the last quarter. 65.81% of the stock is owned by hedge funds and other institutional investors.

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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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