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

Quanex Building Products (NYSE:NX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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

Quanex Building Products Trading Down 2.4 %

Shares of NX stock opened at $28.23 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 25.21, a P/E/G ratio of 0.89 and a beta of 1.24. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $29.62 and its 200 day moving average is $28.99. Quanex Building Products has a 12-month low of $24.85 and a 12-month high of $39.31.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same period in the prior year, the company posted $0.95 EPS. Research analysts expect that Quanex Building Products will post 2.26 earnings per share for the current year.

Hedge Funds Weigh In On Quanex Building Products

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