Insteel Industries (NYSE:IIIN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Insteel Industries (NYSE:IIIN) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Zacks Research lowered shares of Insteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Weiss Ratings cut Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Insteel Industries Stock Down 0.4%

IIIN opened at $31.59 on Friday. The stock has a market cap of $613.48 million, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.90 and a beta of 0.80. The company has a 50-day simple moving average of $31.69. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64.

Insteel Industries (NYSE:IIIN) last announced its quarterly earnings data on Thursday, October 16th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.The company had revenue of $177.44 million for the quarter, compared to analysts’ expectations of $179.40 million.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.