Encore Wire Corp (NASDAQ: WIRE) stock closed at $291.23 on 4/15/24 after a major increase of 11.6%. Moreover, exceptionally high trading volume at 1263% of normal accompanied the advance. The stock has risen 8.4% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
WIRE’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Encore Wire has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. Encore Wire has a slightly positive Appreciation Score of 64 and a very high Power Rating of 87, with the Highest Value Trend Rating the result.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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