Insteel Industries (NYSE:IIIN) Issues Quarterly Earnings Results

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

Insteel Industries Stock Up 0.4%

Shares of IIIN stock opened at $33.68 on Thursday. The stock has a market capitalization 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’s 50-day moving average price is $31.95. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IIIN shares. Weiss Ratings downgraded Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Wall Street Zen raised Insteel Industries from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.