Insteel Industries (NYSE:IIIN) Trading 1.7% Higher – Time to Buy?

Insteel Industries, Inc. (NYSE:IIIN)’s share price traded up 1.7% on Monday . The company traded as high as $37.45 and last traded at $37.22. 94,599 shares were traded during mid-day trading, a decline of 46% from the average session volume of 176,708 shares. The stock had previously closed at $36.61.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IIIN. Wall Street Zen downgraded shares of Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings downgraded Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Insteel Industries has a consensus rating of “Hold”.

Insteel Industries Price Performance

The company’s fifty day moving average price is $33.00 and its 200 day moving average price is $34.52. The company has a market cap of $722.07 million, a PE ratio of 15.32, a P/E/G ratio of 1.00 and a beta of 0.84.

Insteel Industries (NYSE:IIIN) last released its quarterly earnings results on Thursday, January 15th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. The business had revenue of $159.92 million for the quarter. Insteel Industries had a net margin of 7.01% and a return on equity of 13.51%.

About Insteel Industries

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.