Insteel Industries (NYSE:IIIN) Posts Earnings Results, Beats Expectations By $0.06 EPS

Insteel Industries (NYSE:IIIN) released its quarterly earnings data on Thursday. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06, Zacks reports. Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.

Insteel Industries Stock Performance

NYSE:IIIN opened at $33.68 on Thursday. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64. The company has a market cap of $653.39 million, a P/E ratio of 16.04, a PEG ratio of 0.95 and a beta of 0.81. The stock has a 50 day moving average of $31.95.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IIIN. Wall Street Zen upgraded Insteel Industries from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Weiss Ratings downgraded Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Insteel Industries currently has an average rating of “Hold”.

About Insteel Industries

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.