Insteel Industries (NYSE:IIIN) Upgraded to Buy at Wall Street Zen

Insteel Industries (NYSE:IIIN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

IIIN has been the topic of a number of other reports. Weiss Ratings cut Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Zacks Research cut Insteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Insteel Industries Trading Down 3.6%

IIIN opened at $31.78 on Friday. The company has a market capitalization of $617.17 million, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.93 and a beta of 0.80. Insteel Industries has a 1-year low of $22.49 and a 1-year high of $41.64. The stock has a 50 day moving average price of $31.79.

Insteel Industries (NYSE:IIIN) last announced its quarterly earnings data on Thursday, October 16th. The company reported $0.74 EPS for the quarter, missing the consensus estimate 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 for 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.