Insteel Industries Inc (NASDAQ:IIIN) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation. Insteel Industries’ rating score has declined by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Zacks has also given Insteel Industries an industry rank of 202 out of 265 based on the ratings given to related companies.
A number of analysts recently commented on the company. BidaskClub upgraded Insteel Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 23rd. TheStreet upgraded Insteel Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, January 17th. Finally, Sidoti cut Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Thursday, January 18th.
Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The firm had revenue of $97.74 million for the quarter, compared to analysts’ expectations of $94.90 million. Insteel Industries had a net margin of 6.67% and a return on equity of 10.13%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS.
Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its position in Insteel Industries by 3.2% during the second quarter. Advisory Services Network LLC now owns 5,895 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 181 shares during the last quarter. Oppenheimer & Close LLC purchased a new stake in Insteel Industries during the third quarter valued at $203,000. Stifel Financial Corp purchased a new stake in Insteel Industries during the third quarter valued at $204,000. Oppenheimer & Co. Inc. purchased a new stake in Insteel Industries during the third quarter valued at $217,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Insteel Industries during the fourth quarter valued at $221,000. Institutional investors own 82.15% of the company’s stock.
About Insteel Industries
Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
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