Insteel Industries (NASDAQ:IIIN – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.
Insteel Industries Price Performance
IIIN stock opened at $27.35 on Friday. The stock has a market capitalization of $532.64 million, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10. The company’s 50-day moving average is $31.36 and its 200-day moving average is $32.02. Insteel Industries has a 1 year low of $26.86 and a 1 year high of $39.38.
Insteel Industries (NASDAQ:IIIN – Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). The company had revenue of $145.80 million for the quarter, compared to the consensus estimate of $153.04 million. Insteel Industries had a return on equity of 5.78% and a net margin of 3.67%. Insteel Industries’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. On average, analysts anticipate that Insteel Industries will post 0.99 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Insteel Industries
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.
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