Insteel Industries (NYSE:IIIN) Stock Rating Lowered by Wall Street Zen

Insteel Industries (NYSE:IIIN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings lowered Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research report on Saturday, October 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Insteel Industries Stock Up 6.3%

Shares of NYSE:IIIN opened at $34.22 on Friday. The company has a 50 day moving average price of $32.03. The firm has a market capitalization of $663.87 million, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.97 and a beta of 0.81. Insteel Industries has a 52 week low of $22.49 and a 52 week high of $41.64.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings data on Thursday, October 16th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Insteel Industries had a return on equity of 13.51% and a net margin of 7.01%.The business had revenue of $177.44 million during the quarter, compared to the consensus estimate 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.