NCI Building Systems Inc. (NCS) Sees Large Growth in Short Interest
NCI Building Systems Inc. (NYSE:NCS) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,899,193 shares, a growth of 82.6% from the August 31st total of 1,040,286 shares. Based on an average daily volume of 958,596 shares, the short-interest ratio is currently 2.0 days. Currently, 4.9% of the company’s shares are sold short.
Several research firms have weighed in on NCS. Credit Suisse Group AG reiterated a “buy” rating on shares of NCI Building Systems in a report on Wednesday, June 29th. Zacks Investment Research upgraded NCI Building Systems from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Thursday, August 25th. DA Davidson set a $17.00 target price on NCI Building Systems and gave the stock a “hold” rating in a report on Wednesday, August 31st. Finally, TheStreet upgraded NCI Building Systems from a “hold” rating to a “buy” rating in a report on Tuesday, August 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $16.83.
In other NCI Building Systems news, major shareholder Dubilier & Rice Fund V. Clayton sold 13,260,054 shares of NCI Building Systems stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $15.46, for a total transaction of $205,000,434.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George L. Ball bought 4,500 shares of NCI Building Systems stock in a transaction on Friday, September 2nd. The shares were acquired at an average price of $15.15 per share, for a total transaction of $68,175.00. Following the completion of the acquisition, the director now owns 34,999 shares of the company’s stock, valued at approximately $530,234.85. The disclosure for this purchase can be found here. 4.49% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC boosted its position in NCI Building Systems by 127.0% in the first quarter. TIAA CREF Investment Management LLC now owns 208,476 shares of the company’s stock worth $2,960,000 after buying an additional 116,642 shares during the last quarter. Prudential Financial Inc. purchased a new position in NCI Building Systems during the first quarter worth about $2,805,000. Algert Global LLC boosted its position in NCI Building Systems by 361.4% in the first quarter. Algert Global LLC now owns 66,679 shares of the company’s stock worth $947,000 after buying an additional 52,229 shares during the last quarter. BlackRock Group LTD boosted its position in NCI Building Systems by 38.2% in the first quarter. BlackRock Group LTD now owns 87,118 shares of the company’s stock worth $1,237,000 after buying an additional 24,061 shares during the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in NCI Building Systems during the first quarter worth about $123,000. Hedge funds and other institutional investors own 96.34% of the company’s stock.
Shares of NCI Building Systems (NYSE:NCS) opened at 14.59 on Monday. NCI Building Systems has a one year low of $9.07 and a one year high of $17.85. The stock has a 50 day moving average price of $15.59 and a 200-day moving average price of $15.55. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 21.61 and a beta of 1.77.
NCI Building Systems (NYSE:NCS) last released its quarterly earnings data on Tuesday, August 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. NCI Building Systems had a net margin of 3.00% and a return on equity of 20.05%. The firm had revenue of $462.40 million for the quarter, compared to analysts’ expectations of $450.46 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that NCI Building Systems will post $0.76 EPS for the current year.
About NCI Building Systems
NCI Building Systems, Inc is a manufacturer and marketer of metal products for the non-residential construction industry. The Company operates through three segments: engineered building systems, metal components and metal coil coating. The metal coil coating segment consists of cleaning, treating, painting and slitting continuous steel coils before the steel is fabricated for use by construction and industrial users.
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