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

StockNews.com downgraded shares of Quanex Building Products (NYSE:NX) from a buy rating to a hold rating in a report published on Thursday morning.

Separately, Benchmark reissued a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Trading Up 3.3 %

Quanex Building Products stock opened at $29.76 on Thursday. Quanex Building Products has a one year low of $24.85 and a one year high of $39.31. The business’s fifty day moving average is $29.26 and its 200 day moving average is $29.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $1.41 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same period in the previous year, the business posted $0.97 earnings per share. On average, sell-side analysts predict that Quanex Building Products will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the period. Quarry LP increased its stake in shares of Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Quanex Building Products during the 3rd quarter valued at $37,000. Public Employees Retirement System of Ohio lifted its stake in shares of Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Quanex Building Products in the 2nd quarter worth $46,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Company Profile

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.