Insteel Industries (NYSE:IIIN) Shares Gap Down – Should You Sell?

Shares of Insteel Industries, Inc. (NYSE:IIIN) gapped down before the market opened on Thursday . The stock had previously closed at $33.70, but opened at $31.37. Insteel Industries shares last traded at $32.35, with a volume of 25,317 shares.

Analysts Set New Price Targets

IIIN has been the subject of a number of research reports. Wall Street Zen raised shares of Insteel Industries from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Weiss Ratings cut Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Insteel Industries Trading Down 8.0%

The company has a market cap of $601.59 million, a PE ratio of 14.77, a P/E/G ratio of 0.95 and a beta of 0.81. The business has a fifty day moving average price of $31.95.

Insteel Industries (NYSE:IIIN) last released its quarterly earnings data on Thursday, October 16th. The company reported $0.74 earnings per share 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 the consensus estimate of $179.40 million. Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.

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.