Wall Street Zen Downgrades Insteel Industries (NYSE:IIIN) to Hold

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

Separately, Weiss Ratings lowered shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Insteel Industries Price Performance

Shares of Insteel Industries stock opened at $34.22 on Friday. The company has a market cap of $663.73 million, a price-to-earnings ratio of 14.08, a PEG ratio of 0.91 and a beta of 0.81. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64. The firm’s 50-day moving average price is $32.03.

Insteel Industries (NYSE:IIIN) last released 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). The firm had revenue of $177.44 million during the quarter, compared to the consensus estimate of $179.40 million. Insteel Industries had a return on equity of 13.51% and a net margin of 7.01%.

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.