TheStreet Downgrades Insteel Industries, Inc. (IIIN) to C+

Insteel Industries, Inc. (NASDAQ:IIIN) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Thursday.

Several other research firms also recently weighed in on IIIN. BidaskClub raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Longbow Research downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Insteel Industries presently has a consensus rating of “Hold”.

Insteel Industries (NASDAQ:IIIN) traded down 7.41% on Thursday, hitting $27.00. The company’s stock had a trading volume of 720,324 shares. The firm has a market cap of $513.68 million, a price-to-earnings ratio of 18.12 and a beta of 2.10. The firm has a 50 day moving average of $25.67 and a 200 day moving average of $29.75. Insteel Industries has a 12 month low of $23.20 and a 12 month high of $42.81.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. The company had revenue of $96.89 million for the quarter, compared to the consensus estimate of $96.25 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities research analysts forecast that Insteel Industries will post $1.82 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “TheStreet Downgrades Insteel Industries, Inc. (IIIN) to C+” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://ledgergazette.com/2017/10/21/thestreet-downgrades-insteel-industries-inc-iiin-to-c.html.

A number of hedge funds have recently modified their holdings of IIIN. Franklin Resources Inc. increased its holdings in Insteel Industries by 42.9% during the second quarter. Franklin Resources Inc. now owns 705,500 shares of the industrial products company’s stock valued at $23,260,000 after buying an additional 211,900 shares during the period. Royal Bank of Canada increased its holdings in Insteel Industries by 12.5% during the second quarter. Royal Bank of Canada now owns 1,453,445 shares of the industrial products company’s stock valued at $47,921,000 after buying an additional 161,813 shares during the period. Dimensional Fund Advisors LP increased its holdings in Insteel Industries by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,297,264 shares of the industrial products company’s stock valued at $42,771,000 after buying an additional 104,298 shares during the period. Kennedy Capital Management Inc. purchased a new position in Insteel Industries during the second quarter valued at approximately $2,411,000. Finally, Royce & Associates LP increased its holdings in Insteel Industries by 3.4% during the second quarter. Royce & Associates LP now owns 1,748,930 shares of the industrial products company’s stock valued at $57,662,000 after buying an additional 57,600 shares during the period. 81.29% of the stock is currently owned by institutional investors.

About Insteel Industries

Insteel Industries

Several other research firms also recently weighed in on IIIN. BidaskClub raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Longbow Research downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Insteel Industries presently has a consensus rating of “Hold”.

Insteel Industries (NASDAQ:IIIN) traded down 7.41% on Thursday, hitting $27.00. The company’s stock had a trading volume of 720,324 shares. The firm has a market cap of $513.68 million, a price-to-earnings ratio of 18.12 and a beta of 2.10. The firm has a 50 day moving average of $25.67 and a 200 day moving average of $29.75. Insteel Industries has a 12 month low of $23.20 and a 12 month high of $42.81.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. The company had revenue of $96.89 million for the quarter, compared to the consensus estimate of $96.25 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities research analysts forecast that Insteel Industries will post $1.82 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “TheStreet Downgrades Insteel Industries, Inc. (IIIN) to C+” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://ledgergazette.com/2017/10/21/thestreet-downgrades-insteel-industries-inc-iiin-to-c.html.

A number of hedge funds have recently modified their holdings of IIIN. Franklin Resources Inc. increased its holdings in Insteel Industries by 42.9% during the second quarter. Franklin Resources Inc. now owns 705,500 shares of the industrial products company’s stock valued at $23,260,000 after buying an additional 211,900 shares during the period. Royal Bank of Canada increased its holdings in Insteel Industries by 12.5% during the second quarter. Royal Bank of Canada now owns 1,453,445 shares of the industrial products company’s stock valued at $47,921,000 after buying an additional 161,813 shares during the period. Dimensional Fund Advisors LP increased its holdings in Insteel Industries by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,297,264 shares of the industrial products company’s stock valued at $42,771,000 after buying an additional 104,298 shares during the period. Kennedy Capital Management Inc. purchased a new position in Insteel Industries during the second quarter valued at approximately $2,411,000. Finally, Royce & Associates LP increased its holdings in Insteel Industries by 3.4% during the second quarter. Royce & Associates LP now owns 1,748,930 shares of the industrial products company’s stock valued at $57,662,000 after buying an additional 57,600 shares during the period. 81.29% of the stock is currently owned by institutional investors.

About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

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