Quanex Building Products (NYSE:NX) Stock Rating Lowered by StockNews.com

Quanex Building Products (NYSE:NXGet Free Report) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Separately, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Tuesday, April 23rd.

Read Our Latest Report on Quanex Building Products

Quanex Building Products Stock Performance

NYSE:NX opened at $28.70 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 2.22. The company has a 50 day moving average price of $32.65 and a 200 day moving average price of $33.17. Quanex Building Products has a fifty-two week low of $24.97 and a fifty-two week high of $39.31. The stock has a market capitalization of $950.26 million, a P/E ratio of 11.76, a PEG ratio of 0.88 and a beta of 1.36.

Quanex Building Products (NYSE:NXGet Free Report) last issued its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.13. Quanex Building Products had a net margin of 7.33% and a return on equity of 16.55%. The business had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $268.80 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. Equities research analysts forecast that Quanex Building Products will post 2.33 EPS for the current year.

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Quanex Building Products by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company’s stock valued at $598,000 after buying an additional 304 shares during the period. SummerHaven Investment Management LLC raised its stake in Quanex Building Products by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 27,673 shares of the construction company’s stock worth $846,000 after purchasing an additional 354 shares during the period. Ritholtz Wealth Management boosted its holdings in Quanex Building Products by 2.0% in the fourth quarter. Ritholtz Wealth Management now owns 18,946 shares of the construction company’s stock valued at $579,000 after acquiring an additional 373 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Quanex Building Products by 1.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,972 shares of the construction company’s stock valued at $1,113,000 after purchasing an additional 477 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Quanex Building Products by 4.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,126 shares of the construction company’s stock valued at $462,000 after buying an additional 641 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

About Quanex Building Products

(Get Free Report)

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.

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