Insteel Industries (NYSE:IIIN) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Insteel Industries (NYSE:IIIN) from a buy rating to a hold rating in a report released on Saturday.

IIIN has been the subject of a number of other reports. Zacks Research cut shares of Insteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Weiss Ratings cut shares of Insteel Industries from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Insteel Industries Trading Down 4.9%

Shares of IIIN stock opened at $30.38 on Friday. Insteel Industries has a 1-year low of $22.49 and a 1-year high of $41.64. The firm has a market cap of $589.86 million, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The stock’s 50 day simple moving average is $35.05.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. 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.