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

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

Several other equities analysts have also commented on IIIN. Zacks Research lowered Insteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Weiss Ratings lowered Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Insteel Industries Price Performance

Shares of IIIN opened at $31.98 on Friday. Insteel Industries has a fifty-two week low of $22.49 and a fifty-two week high of $41.64. The firm has a market cap of $620.92 million, a P/E ratio of 15.23, a PEG ratio of 0.88 and a beta of 0.83. The company has a fifty day simple moving average of $35.21.

Insteel Industries Company Profile

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.