Quanex Building Products Corp. (NX) Stock Rating Upgraded by Zacks Investment Research
Quanex Building Products Corp. (NYSE:NX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “QUANEX BUILDING PRODUCTS CORPORATION is a leading manufacturer of engineered materials and components for the U.S. building products market. The Company operates two segments: Engineered Building Products designs proprietary window and door systems and produces fabricated metal, wood and vinyl window and door components, spacer/sealant systems and other products for major window and door manufacturers that primarily serve the residential construction and remodeling markets. Aluminum Sheet Building Products produces coated and mill finish aluminum sheet products for the building and construction market, as well as other capital goods and transportation markets. “
NX has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Quanex Building Products Corp. in a research note on Monday, October 10th. TheStreet lowered Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Finally, Imperial Capital reiterated an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corp. in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.63.
Quanex Building Products Corp. (NYSE:NX) opened at 16.50 on Wednesday. The stock has a 50 day moving average price of $16.68 and a 200-day moving average price of $18.59. The company has a market cap of $560.19 million, a price-to-earnings ratio of 220.00 and a beta of 0.75. Quanex Building Products Corp. has a 1-year low of $15.33 and a 1-year high of $21.66.
Quanex Building Products Corp. (NYSE:NX) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The firm earned $248.10 million during the quarter. Quanex Building Products Corp. had a return on equity of 6.25% and a net margin of 0.30%. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. On average, equities research analysts forecast that Quanex Building Products Corp. will post $0.76 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Quanex Building Products Corp. by 208.8% in the third quarter. Morgan Stanley now owns 8,171 shares of the company’s stock worth $141,000 after buying an additional 5,525 shares during the period. Acrospire Investment Management LLC boosted its stake in Quanex Building Products Corp. by 56.9% in the third quarter. Acrospire Investment Management LLC now owns 7,129 shares of the company’s stock worth $123,000 after buying an additional 2,584 shares during the period. Principal Financial Group Inc. boosted its stake in Quanex Building Products Corp. by 2.7% in the third quarter. Principal Financial Group Inc. now owns 247,614 shares of the company’s stock worth $4,274,000 after buying an additional 6,581 shares during the period. Northern Trust Corp boosted its stake in Quanex Building Products Corp. by 1.6% in the third quarter. Northern Trust Corp now owns 403,591 shares of the company’s stock worth $6,966,000 after buying an additional 6,503 shares during the period. Finally, Princeton Alpha Management LP acquired a new stake in Quanex Building Products Corp. during the third quarter worth approximately $230,000. Institutional investors and hedge funds own 94.43% of the company’s stock.
Quanex Building Products Corp. Company Profile
Quanex Building Products Corporation manufactures components primarily for the window and door (fenestration) industry, including insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products for original equipment manufacturers (OEMs). The Company’s segments include Engineered Products, International Extrusion, and Corporate & Other.
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