Insteel Industries Inc. [NASDAQ: IIIN] will report earnings after markets close on Thursday, January 21st.
IIIN Earnings Forecast For The Current Quarter
Insteel Industries Inc. [IIIN] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $102.78M and an earnings per share of $0.29 for Dec 2020. Looking further ahead, the company is expected to report revenue of $110.01M at an EPS of $0.29 for Mar 2021. The estimates represent 1.20% and -1.45% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IIIN Earnings Estimates For The Current Year
For the financial year, Insteel Industries Inc. [NASDAQ:IIIN] is expected to bring in revenue of $464.15M. The returns are nearly $-8.47 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.38, higher than that of FY20 by $0.32. Estimates put this year’s earnings growth at 30.20%, -1.40% for the next, and at an annual 13.00% over the next 5-year period. As for sales, forecasts are for a decrease of -1.80% in the current fiscal year and a further 1.20% over the following year.
IIIN Price Performance
On Wall Street, Insteel Industries Inc. [NASDAQ:IIIN] finished Tuesday’s session up 3.61% at $25.29. The stock went up to $25.72 at the same session while its lowest single day price was $24.45. In the last five days, it saw a rise of about 2.39%, Insteel Industries Inc. shares gained by almost 13.56% since the beginning of the year. However, the share price has dropped to as low as -2.09% below its one year high. On 01/12/21, the company shares recorded $25.83, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $22.20. The company’s shares have inclined by 3.37% in the past year. The 50-day SMA achieved is $24.02 while the 200-day SMA is $19.82. Volume gained to 88349.0 from 44000.0 in the previous session.
Insteel Industries Inc. [IIIN] Valuation Measures
Notably, Insteel Industries Inc. [IIIN] stock can be classified as a good candidate in the listing of underestimated low-priced Metal Fabrication companies to purchase soonest possible with the prevailing 12-month PE ratio of 25.81. The measure means the stock is exchanging at a discount as compared to the 25.85x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.08 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.41 which means IIIN serve an attractive investment opportunity compared to its competitors.
IIIN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 25.29 level, and in case of violation of this particular level, it will cause more drop to 24.59 level. On the upper level, 27.13 is still the key resistance. The stock may increase to the subsequent resistance at 26.42. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.46, implying a neutral technical stance while the MACD stands at 0.78, meaning price will decrease in the next trading period. Percent R indicator moved to 14.44%, implying bullish price movement. Stochastic %K at 69.88% suggest holding the stock.
Is Insteel Industries Inc. [NASDAQ:IIIN] a Good Buy Right Now?
It should be noted that IIIN technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 80% Buy in the past month. Data from Insteel Industries Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 95145.0 shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 79600.0 shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 74641.0 shares.
What is the short interest in Insteel Industries Inc.?
Short interest in the Insteel Industries Inc. stock has plunged, decreasing by 880.0 shares to total 0.23 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 0.23 million, data from Yahoo Finance shows. The increase of 0.38% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 1.49% of the overall float for the stock.
Insteel Industries Inc.’s Biggest Shareholders: Who Owns Insteel Industries Inc. [IIIN]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 2,689,442 shares or roughly 13.93% of the outstanding IIIN shares. This means their shares have increased by 56,228 from the 2,689,442 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Franklin Mutual Advisers LLC updated stake is worth $34,283,618. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. acquired their 3.71% stake valued at $28,415,340 while Dimensional Fund Advisors LP cut theirs at $26,582,942. During the last quarter, T. Rowe Price Associates, Inc. raised 45,656 of its shares in Insteel Industries Inc. while Dimensional Fund Advisors LP sold -8,002 shares. The The Vanguard Group, Inc.’s holdings currently number 1,171,397 shares at $29624630.13. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 596,526 shares, roughly $13,284,634.
What are analyst thoughts on Insteel Industries Inc.?
Looking forward to the Insteel Industries Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Insteel Industries Inc. stock at $23.50 within the next 12 months, which represents almost -7.62 per cent growth from its previous closing price of $25.29. The highest analysts’ target for Insteel Industries Inc. stock projections is $24.00 and the lowest one is $23.00. Still, 2 analysts sharing their consensus rating for IIIN stock in 2021 agree that it is an Overweight.