Insteel Industries Inc (NYSE: IIIN) has reported earnings for its third fiscal quarter (ending June 30) of $0.34 versus $0.54 for the same period a year ago — a decline of -37%. This result fell short of the consensus estimate of $0.50 by $-0.16. For the latest four quarters through June 30, E.P.S. were $1.04 versus $2.61 for the same period a year ago — a decline of -60%.
Recent Price Action
On 7/18/24, Insteel Industries Inc (NYSE: IIIN) stock enjoyed a large increase of 2.9%, closing at $33.20. Moreover, this advance was accompanied by unusually high trading volume at 186% of normal. Relative to the market the stock has been weak over the last nine months but has risen 10.1% 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 be above the cost of capital.
Insteel Industries has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Insteel Industries has a slightly positive Appreciation Score of 61 and a neutral Power Rating of 46, triggering the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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