Insteel Industries (NASDAQ:IIIN) will be releasing its earnings data on Monday, April 23rd. Analysts expect Insteel Industries to post earnings of $0.45 per share for the quarter.
Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, January 18th. The industrial products company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). Insteel Industries had a return on equity of 10.13% and a net margin of 6.67%. The firm had revenue of $97.74 million during the quarter, compared to analyst estimates of $94.90 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis.
Shares of IIIN stock opened at $27.66 on Monday. Insteel Industries has a fifty-two week low of $23.20 and a fifty-two week high of $36.94. The stock has a market capitalization of $528.39, a price-to-earnings ratio of 24.13 and a beta of 2.02.
Several brokerages have weighed in on IIIN. Sidoti began coverage on Insteel Industries in a research report on Monday, December 18th. They issued a “buy” rating and a $34.00 target price on the stock. TheStreet raised Insteel Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, January 17th. Finally, BidaskClub lowered Insteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 24th.
In other news, VP James F. Petelle sold 1,237 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $31.38, for a total transaction of $38,817.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.70% of the company’s stock.
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About Insteel Industries
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company markets prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
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