Quanex Building Products (NYSE:NX) Upgraded to Buy at StockNews.com

Quanex Building Products (NYSE:NX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

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

Quanex Building Products Stock Up 0.1 %

Shares of NYSE:NX opened at $29.19 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. Quanex Building Products has a 52-week low of $24.85 and a 52-week high of $39.31. The company has a 50 day moving average of $29.45 and a two-hundred day moving average of $29.13. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The company had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. During the same quarter last year, the company earned $0.97 earnings per share. As a group, analysts forecast that Quanex Building Products will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares during the last quarter. Quarry LP lifted its stake in Quanex Building Products by 150.8% during 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 during the last quarter. Point72 Hong Kong Ltd bought a new position in Quanex Building Products during the third quarter worth $37,000. Public Employees Retirement System of Ohio lifted its stake in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Quanex Building Products during the second 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.