Quanex Building Products Corporation (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 Thursday.

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 raised shares of Quanex Building Products Corporation from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Friday, September 8th. Sidoti began coverage on shares of Quanex Building Products Corporation in a research report on Monday, August 7th. They set a “buy” rating for the company. KeyCorp reaffirmed a “hold” rating on shares of Quanex Building Products Corporation in a research report on Friday, September 22nd. BidaskClub downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, TheStreet raised shares of Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.00.

Shares of Quanex Building Products Corporation (NYSE:NX) opened at $21.40 on Thursday. The firm has a market cap of $752.59, a P/E ratio of 25.71 and a beta of 0.70. The company has a current ratio of 1.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. Quanex Building Products Corporation has a 52-week low of $15.80 and a 52-week high of $23.60.

Quanex Building Products Corporation (NYSE:NX) last released its earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $229.40 million for the quarter, compared to analyst estimates of $235.45 million. Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. equities research analysts forecast that Quanex Building Products Corporation will post 0.85 earnings per share for the current fiscal year.

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In other news, VP Brent L. Korb sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $21.15, for a total transaction of $370,125.00. Following the completion of the sale, the vice president now owns 94,679 shares of the company’s stock, valued at approximately $2,002,460.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.32% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Quanex Building Products Corporation by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the construction company’s stock worth $142,000 after purchasing an additional 2,946 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Quanex Building Products Corporation by 36.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock worth $229,000 after purchasing an additional 2,895 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Quanex Building Products Corporation by 59.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock worth $297,000 after purchasing an additional 4,800 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Quanex Building Products Corporation in the 3rd quarter worth $299,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Quanex Building Products Corporation in the 3rd quarter worth $310,000. 99.74% of the stock is owned by institutional investors.

About Quanex Building Products Corporation

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