Insteel Industries (NYSE:IIIN) Shares Up 5.6% – What’s Next?

Shares of Insteel Industries, Inc. (NYSE:IIIN) shot up 5.6% on Friday . The company traded as high as $34.42 and last traded at $34.01. 68,055 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 135,287 shares. The stock had previously closed at $32.20.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IIIN. Wall Street Zen lowered Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Insteel Industries has an average rating of “Hold”.

Insteel Industries Stock Performance

The firm has a market cap of $663.87 million, a PE ratio of 14.08, a PEG ratio of 0.97 and a beta of 0.81. The firm’s 50 day moving average price is $32.03.

Insteel Industries (NYSE:IIIN) last posted 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). The firm had revenue of $177.44 million for the quarter, compared to analysts’ expectations of $179.40 million. Insteel Industries had a return on equity of 13.51% and a net margin of 7.01%.

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.