NCI Building Systems Inc (NYSE:NCS) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 727,034 shares, a drop of 36.2% from the November 30th total of 1,139,567 shares. Based on an average trading volume of 1,388,393 shares, the short-interest ratio is presently 0.5 days. Approximately 1.6% of the shares of the company are sold short.
Shares of NCI Building Systems (NCS) traded up $0.05 during trading on Thursday, hitting $18.50. The stock had a trading volume of 555,755 shares, compared to its average volume of 504,789. NCI Building Systems has a twelve month low of $13.05 and a twelve month high of $21.20. The firm has a market capitalization of $1,230.26, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.68. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.06 and a current ratio of 1.69.
NCI Building Systems (NYSE:NCS) last announced its earnings results on Wednesday, December 6th. The construction company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.10). The company had revenue of $488.73 million for the quarter, compared to analysts’ expectations of $477.13 million. NCI Building Systems had a net margin of 3.08% and a return on equity of 18.76%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. equities research analysts expect that NCI Building Systems will post 1.09 EPS for the current year.
NCI Building Systems declared that its Board of Directors has authorized a stock repurchase program on Tuesday, October 10th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder Dubilier & Rice Fund V. Clayton sold 7,150,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $19.36, for a total value of $138,424,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd R. Moore sold 36,000 shares of NCI Building Systems stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $19.43, for a total value of $699,480.00. Following the sale, the executive vice president now owns 85,735 shares of the company’s stock, valued at approximately $1,665,831.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,296,115 shares of company stock worth $141,263,459. Insiders own 1.78% of the company’s stock.
A number of hedge funds have recently modified their holdings of NCS. Victory Capital Management Inc. increased its holdings in shares of NCI Building Systems by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,757 shares of the construction company’s stock valued at $130,000 after acquiring an additional 1,163 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of NCI Building Systems by 41.0% during the 2nd quarter. Legal & General Group Plc now owns 8,802 shares of the construction company’s stock valued at $147,000 after acquiring an additional 2,559 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of NCI Building Systems during the 2nd quarter valued at about $160,000. First Quadrant L P CA acquired a new position in shares of NCI Building Systems during the 3rd quarter valued at about $161,000. Finally, Airain ltd acquired a new position in shares of NCI Building Systems during the 2nd quarter valued at about $202,000. 94.67% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the company. Citigroup reduced their price objective on NCI Building Systems from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Barclays set a $23.00 target price on NCI Building Systems and gave the company a “buy” rating in a research report on Sunday, January 7th. TheStreet raised NCI Building Systems from a “c+” rating to a “b-” rating in a research report on Wednesday, December 27th. Zacks Investment Research upgraded NCI Building Systems from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, December 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of NCI Building Systems in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.80.
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NCI Building Systems Company Profile
NCI Building Systems, Inc is a manufacturer and marketer of metal products in North America. The Company’s operating segments include Engineered building systems, Metal components and Metal coil coating. The Engineered building systems segment is engaged in the manufacturing of main frames and long bay systems, and engineering and drafting.
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