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Is Insteel Industries (IIIN) Stock Undervalued Right Now?
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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
Insteel Industries (IIIN - Free Report) is a stock many investors are watching right now. IIIN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.
Investors should also recognize that IIIN has a P/B ratio of 1.76. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.61. Within the past 52 weeks, IIIN's P/B has been as high as 2.23 and as low as 1.38, with a median of 1.78.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. IIIN has a P/S ratio of 1.05. This compares to its industry's average P/S of 1.6.
Value investors will likely look at more than just these metrics, but the above data helps show that Insteel Industries is likely undervalued currently. And when considering the strength of its earnings outlook, IIIN sticks out at as one of the market's strongest value stocks.
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Is Insteel Industries (IIIN) Stock Undervalued Right Now?
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
Insteel Industries (IIIN - Free Report) is a stock many investors are watching right now. IIIN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.
Investors should also recognize that IIIN has a P/B ratio of 1.76. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.61. Within the past 52 weeks, IIIN's P/B has been as high as 2.23 and as low as 1.38, with a median of 1.78.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. IIIN has a P/S ratio of 1.05. This compares to its industry's average P/S of 1.6.
Value investors will likely look at more than just these metrics, but the above data helps show that Insteel Industries is likely undervalued currently. And when considering the strength of its earnings outlook, IIIN sticks out at as one of the market's strongest value stocks.