Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Insteel downgraded at Longbow on weaker than expected volume trends

Published 08/25/2017, 01:16 PM
© Reuters.  Insteel downgraded at Longbow on weaker than expected volume trends
IIIN
-
  • Insteel Industries (IIIN -3.1%) is downgraded to Neutral from Buy at Longbow Research, which prefers to sit on the sidelines on the stock until better visibility into infrastructure-related demand and near-term funding.
  • Longbow says its recent construction metal channel checks show weaker than expected volume trends as well as a risk of metal spread contraction.
  • Continued delays in infrastructure related spending, slowing long product orders after the delayed Section 232 investigation and other macro uncertainties have forced distribution and fabrication contacts to lower full-year expectations, which leads Longbow to believe IIIN has "missed the construction season."
  • Now read: Noble Group's Palm Oil Investments Value Decreased By USD 60 Million


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.