Zacks Investment Research upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a buy rating in a report issued on Thursday. The firm currently has $20.00 price target on the construction company’s stock.
According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “
Other equities analysts also recently issued reports about the stock. KeyCorp reiterated a hold rating on shares of Quanex Building Products in a report on Friday, October 27th. Wedbush downgraded shares of Quanex Building Products from an outperform rating to a neutral rating and set a $25.00 price target on the stock. in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Quanex Building Products currently has an average rating of Hold and an average price target of $22.50.
Quanex Building Products (NYSE:NX) opened at $18.60 on Thursday. The company has a market cap of $652.30, a PE ratio of 24.16 and a beta of 0.57. Quanex Building Products has a fifty-two week low of $17.45 and a fifty-two week high of $24.60. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54.
Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $233.00 million for the quarter, compared to the consensus estimate of $232.47 million. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. equities analysts predict that Quanex Building Products will post 0.9 earnings per share for the current fiscal year.
In related news, SVP Kevin P. Delaney sold 50,400 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.02, for a total transaction of $1,210,608.00. Following the transaction, the senior vice president now directly owns 111,527 shares in the company, valued at approximately $2,678,878.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan F. Davis sold 10,421 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $22.47, for a total transaction of $234,159.87. Following the transaction, the director now owns 35,603 shares in the company, valued at $799,999.41. The disclosure for this sale can be found here. Insiders have sold a total of 78,921 shares of company stock worth $1,861,684 over the last quarter. 5.32% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of NX. Teachers Advisors LLC grew its stake in Quanex Building Products by 10.5% in the 2nd quarter. Teachers Advisors LLC now owns 60,138 shares of the construction company’s stock worth $1,272,000 after acquiring an additional 5,729 shares in the last quarter. BlackRock Inc. grew its stake in Quanex Building Products by 0.9% in the 2nd quarter. BlackRock Inc. now owns 4,732,378 shares of the construction company’s stock worth $100,089,000 after acquiring an additional 40,778 shares in the last quarter. New York State Common Retirement Fund grew its stake in Quanex Building Products by 10.8% in the 2nd quarter. New York State Common Retirement Fund now owns 38,100 shares of the construction company’s stock worth $806,000 after acquiring an additional 3,699 shares in the last quarter. Northern Trust Corp grew its stake in Quanex Building Products by 1.1% in the 2nd quarter. Northern Trust Corp now owns 435,605 shares of the construction company’s stock worth $9,214,000 after acquiring an additional 4,736 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Quanex Building Products by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,131,357 shares of the construction company’s stock worth $66,228,000 after acquiring an additional 104,038 shares in the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.
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About Quanex Building Products
Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.
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