Insteel Industries (NYSE:IIIN) Trading Up 5.6% – Here’s What Happened

Insteel Industries, Inc. (NYSE:IIIN) was up 5.6% during trading on Friday . The stock traded as high as $34.42 and last traded at $34.01. Approximately 68,055 shares were traded during trading, a decline of 50% from the average daily volume of 135,287 shares. The stock had previously closed at $32.20.

Wall Street Analyst Weigh In

IIIN has been the subject of several research reports. Wall Street Zen raised Insteel Industries from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Weiss Ratings downgraded shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Insteel Industries presently has an average rating of “Hold”.

Insteel Industries Price Performance

The business has a 50 day simple moving average of $31.97. The firm has a market cap of $655.72 million, a PE ratio of 16.10, a P/E/G ratio of 0.96 and a beta of 0.81.

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 business had revenue of $177.44 million during the quarter, compared to analyst estimates of $179.40 million. Insteel Industries had a net margin of 6.33% and a return on equity of 12.19%.

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.