Insteel Industries (NYSE:IIIN) Downgraded by Wall Street Zen to Buy

Wall Street Zen lowered shares of Insteel Industries (NYSE:IIIN) from a strong-buy rating to a buy rating in a report published on Saturday morning.

IIIN has been the subject of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Insteel Industries in a research report on Wednesday, October 8th. Zacks Research downgraded Insteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Insteel Industries Stock Up 1.8%

Shares of IIIN opened at $30.88 on Friday. Insteel Industries has a 1 year low of $22.49 and a 1 year high of $41.64. The company has a market capitalization of $599.38 million, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.86 and a beta of 0.79. The business’s 50-day moving average is $37.79.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings data on Thursday, October 16th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.The company had revenue of $177.44 million for the quarter, compared to the consensus estimate of $179.40 million.

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.