Insteel Industries (NYSE:IIIN) Shares Gap Down – Should You Sell?

Insteel Industries, Inc. (NYSE:IIIN) shares gapped down prior to trading on Monday . The stock had previously closed at $32.95, but opened at $31.75. Insteel Industries shares last traded at $31.75, with a volume of 936 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IIIN shares. Zacks Research downgraded Insteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Wall Street Zen raised shares of Insteel Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings lowered shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Insteel Industries Price Performance

The company has a market cap of $626.30 million, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.80. The firm’s 50 day simple moving average is $31.59.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings results 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). The company had revenue of $177.44 million for the quarter, compared to analysts’ expectations of $179.40 million. Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.

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.