Insteel Industries (NYSE:IIIN) Announces Earnings Results, Beats Estimates By $0.06 EPS

Insteel Industries (NYSE:IIIN) issued its earnings results on Thursday. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06, Zacks reports. Insteel Industries had a return on equity of 12.19% and a net margin of 6.33%.

Insteel Industries Stock Performance

Insteel Industries stock opened at $33.68 on Thursday. The stock has a market cap of $653.39 million, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.95 and a beta of 0.81. The firm has a 50-day moving average of $31.95. Insteel Industries has a 1 year low of $22.49 and a 1 year high of $41.64.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IIIN. Wall Street Zen upgraded Insteel Industries from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Weiss Ratings cut shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research report on Saturday, October 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.