Price Action Alert: A Reversal for Insteel Industries Inc Is Not Near. The Stock Reaches All-Time High Today

Price Action Alert: A Reversal for Insteel Industries Inc Is Not Near. The Stock Reaches All Time High Today

The stock of Insteel Industries Inc (NASDAQ:IIIN) reached all time high today, Nov, 25 and still has $43.60 target or 6.00% above today’s $41.13 share price. This indicates more upside for the $797.03M company. This technical setup was reported by Barchart.com. If the $43.60 PT is reached, the company will be worth $47.82 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 328,556 shares traded hands or 3.97% up from the average. Insteel Industries Inc (NASDAQ:IIIN) has risen 21.57% since April 22, 2016 and is uptrending. It has outperformed by 16.16% the S&P500.

Analysts await Insteel Industries Inc (NASDAQ:IIIN) to report earnings on January, 19.

Insteel Industries Inc (NASDAQ:IIIN) Ratings Coverage

Out of 2 analysts covering InSteel Industries (NASDAQ:IIIN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. InSteel Industries has been the topic of 2 analyst reports since July 22, 2016 according to StockzIntelligence Inc. The company was upgraded on Tuesday, November 22 by Sidoti. The stock of Insteel Industries Inc (NASDAQ:IIIN) has “Neutral” rating given on Friday, July 22 by Rosenblatt.

According to Zacks Investment Research, “Insteel Industries is one of the nation’s largest manufacturers of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets prestressed concrete strand and welded wire reinforcement, including concrete pipe reinforcement, engineered structural mesh and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates six manufacturing facilities located in the United States.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.39, from 1.03 in 2016Q1. The ratio is positive, as 15 funds sold all Insteel Industries Inc shares owned while 53 reduced positions. 29 funds bought stakes while 41 increased positions. They now own 14.39 million shares or 2.56% more from 14.03 million shares in 2016Q1.
Parametric Portfolio Lc holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 12,152 shares. Jacobs Levy Equity Inc has 0.02% invested in the company for 27,840 shares. Sheets Smith Wealth Management accumulated 0.2% or 24,106 shares. Bancorp Of Montreal Can holds 0% or 5,064 shares in its portfolio. Swiss Retail Bank holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 27,700 shares. Gsa Cap Prns Llp has 0.02% invested in the company for 15,507 shares. Moreover, Driehaus Cap Management Limited Liability Company has 0.13% invested in Insteel Industries Inc (NASDAQ:IIIN) for 132,268 shares. Arcadia Investment Mgmt Mi has 0.01% invested in the company for 890 shares. Ny State Common Retirement Fund has 0% invested in the company for 47,507 shares. The Wisconsin-based Cortina Asset Mngmt Ltd Limited Liability Company has invested 0.19% in Insteel Industries Inc (NASDAQ:IIIN). Morgan Stanley has 0% invested in the company for 89,229 shares. State Board Of Administration Of Florida Retirement has invested 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN). Qs Invsts Limited Com last reported 0.01% of its portfolio in the stock. The Texas-based Dimensional Fund Advsr L P has invested 0.02% in Insteel Industries Inc (NASDAQ:IIIN). Bnp Paribas Arbitrage Sa accumulated 0% or 679 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 12 sales for $5.40 million net activity. WOLTZ H O III also sold $689,360 worth of Insteel Industries Inc (NASDAQ:IIIN) on Tuesday, August 30. Another trade for 11,913 shares valued at $413,429 was sold by PETELLE JAMES F. GAZMARIAN MICHAEL C sold 9,488 shares worth $316,651. On Monday, August 15 Wagner Richard sold $75,548 worth of the stock or 2,178 shares. Shares for $358,915 were sold by Jafroodi Scot R on Wednesday, July 27. $50,135 worth of Insteel Industries Inc (NASDAQ:IIIN) was sold by NEWSOME CHARLES B on Friday, June 24.

More notable recent Insteel Industries Inc (NASDAQ:IIIN) news were published by: Prnewswire.com which released: “Insteel Industries Reports Fourth Quarter and Fiscal 2016 Financial Results” on October 20, 2016, also Streetinsider.com with their article: “Littelfuse (LFUS) to Join S&P MidCap 400, Insteel Industries (IIIN) to Join S …” published on November 23, 2016, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on December 22, 2009. More interesting news about Insteel Industries Inc (NASDAQ:IIIN) were released by: Prnewswire.com and their article: “Littelfuse Set to Join the S&P MidCap 400; Insteel Industries to Join S&P …” published on November 23, 2016 as well as Prnewswire.com‘s news article titled: “Insteel Industries Declares Regular Quarterly And Special Cash Dividends” with publication date: November 15, 2016.

IIIN Company Profile

Insteel Industries, Inc., incorporated on December 1, 1958, is a maker of steel wire reinforcing products for concrete construction applications. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). The Company’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Firm sells its products nationwide across the United States, Canada, Mexico, and Central and South America.

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