For its first fiscal quarter (ending December 31), Insteel Industries Inc (NYSE: IIIN) has reported a -89% decline in E.P.S. from $0.57 a year ago to $0.06 in the current quarter. This result fell short of the consensus estimate of $0.12 by $-0.05. For the latest four quarters through December 31, E.P.S. were $1.15 versus $5.78 for the same period a year ago — a decline of -80%.
Recent Price Action
On 1/18/24, Insteel Industries Inc (NYSE: IIIN) stock suffered a large decline of -5.3%, closing at $34.18. Moreover, trading volume in this decline was above average at 132% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -4.1% during the last week.
Current PriceTarget Research Rating
IIIN is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Insteel Industries has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Insteel Industries has a neutral Appreciation Score of 54 but a good Power Rating of 80, resulting in the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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