Insteel Industries (NYSE:IIIN) Issues Quarterly Earnings Results

Key Points

• Insteel Industries reported a quarterly earnings per share (EPS) of $0.74, which fell short of the consensus estimate of $0.75.
• The company has been rated as a "Moderate Buy" by analysts, with ratings ranging from "strong-buy" to "hold" in recent research reports.
• Insteel Industries has a market capitalization of $728.07 million and is involved in manufacturing steel wire reinforcing products for concrete construction applications.

Insteel Industries (NYSE:IIIN - Get Free Report) posted its earnings results on Thursday. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01), Zacks reports. Insteel Industries had a return on equity of 9.50% and a net margin of 5.15%.

Insteel Industries Stock Performance

IIIN stock opened at $37.51 on Thursday. The firm has a market cap of $728.07 million, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.04 and a beta of 0.79. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64. The company has a 50-day simple moving average of $37.99.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IIIN. Wall Street Zen raised shares of Insteel Industries from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 20th. Zacks Research lowered shares of Insteel Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Insteel Industries in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Insteel Industries Company Profile

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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