Insteel Industries, Inc. (NYSE: IIIN) has experienced a decline in its stock price by -7.00 compared to its previous closing price of 34.12. However, the company has seen a fall of -3.76% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-25 that Insteel Industries (IIIN) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.26 per share a year ago.
Is It Worth Investing in Insteel Industries, Inc. (NYSE: IIIN) Right Now?
Insteel Industries, Inc. (NYSE: IIIN) has a price-to-earnings ratio of 27.67x that is above its average ratio. Additionally, the 36-month beta value for IIIN is 1.17. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The public float for IIIN is 18.48M and currently, short sellers hold a 3.67% ratio of that float. The average trading volume of IIIN on April 26, 2024 was 79.15K shares.
IIIN’s Market Performance
IIIN stock saw a decrease of -3.76% in the past week, with a monthly decline of -14.20% and a quarterly a decrease of -7.44%. The volatility ratio for the week is 5.13%, and the volatility levels for the last 30 days are 3.09% for Insteel Industries, Inc. (IIIN). The simple moving average for the past 20 days is -10.13% for IIIN’s stock, with a -2.72% simple moving average for the past 200 days.
Analysts’ Opinion of IIIN
Many brokerage firms have already submitted their reports for IIIN stocks, with Sidoti repeating the rating for IIIN by listing it as a “Neutral.” The predicted price for IIIN in the upcoming period, according to Sidoti is $19 based on the research report published on June 10, 2020 of the previous year 2020.
Sidoti gave a rating of “Neutral” to IIIN, setting the target price at $28 in the report published on January 22nd of the previous year.
IIIN Trading at -10.64% from the 50-Day Moving Average
After a stumble in the market that brought IIIN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -19.43% of loss for the given period.
Volatility was left at 3.09%, however, over the last 30 days, the volatility rate increased by 5.13%, as shares sank -16.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.69% lower at present.
During the last 5 trading sessions, IIIN fell by -3.76%, which changed the moving average for the period of 200-days by +1.63% in comparison to the 20-day moving average, which settled at $35.00. In addition, Insteel Industries, Inc. saw -17.13% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IIIN starting from Wagner Richard, who sale 1,715 shares at the price of $36.14 back on Mar 01 ’24. After this action, Wagner Richard now owns 40,952 shares of Insteel Industries, Inc., valued at $61,983 using the latest closing price.
PETELLE JAMES F, the VP and Asst. Secretary of Insteel Industries, Inc., sale 1,499 shares at $33.50 during a trade that took place back on Sep 06 ’23, which means that PETELLE JAMES F is holding 17,791 shares at $50,218 based on the most recent closing price.
Stock Fundamentals for IIIN
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.09 for the gross margin
The net margin for Insteel Industries, Inc. stands at 0.04. The total capital return value is set at 0.07. Equity return is now at value 6.46, with 5.51 for asset returns.
Based on Insteel Industries, Inc. (IIIN), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at 61.09. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is 281.32.
Currently, EBITDA for the company is 55.15 million with net debt to EBITDA at -1.96. When we switch over and look at the enterprise to sales, we see a ratio of 0.88. The receivables turnover for the company is 13.1for trailing twelve months and the total asset turnover is 1.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.93.
Conclusion
In conclusion, Insteel Industries, Inc. (IIIN) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
