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

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

Several other research firms have also weighed in on IIIN. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Insteel Industries in a research note on Wednesday, October 8th. Zacks Research lowered shares of Insteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Insteel Industries Trading Up 1.8%

IIIN stock opened at $30.88 on Friday. The firm has a market cap of $599.38 million, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 0.79. The business’s fifty day moving average price is $37.79. 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 earnings results on Thursday, October 16th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Insteel Industries had a net margin of 6.33% and a return on equity of 12.19%. The firm had revenue of $177.44 million during the quarter, compared to analyst estimates of $179.40 million.

About Insteel Industries

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.