Insteel Industries (NYSE:IIIN) Shares Gap Down – Here’s Why

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.

Wall Street Analysts Forecast Growth

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

Insteel Industries Trading Down 8.0%

The stock has a market cap of $601.59 million, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.95 and a beta of 0.81. The company has a 50-day moving average price of $31.95.

Insteel Industries (NYSE:IIIN) last posted its earnings results on Thursday, October 16th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $177.44 million during the quarter, compared to the consensus estimate 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.