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

Quanex Building Products (NYSE:NX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

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

Quanex Building Products Stock Performance

Shares of NX stock opened at $26.69 on Thursday. The business’s 50 day simple moving average is $31.26 and its 200 day simple moving average is $32.82. Quanex Building Products has a one year low of $24.97 and a one year high of $39.31. The stock has a market capitalization of $883.71 million, a PE ratio of 10.94, a PEG ratio of 0.82 and a beta of 1.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.22 and a quick ratio of 1.37.

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

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently modified their holdings of NX. GAMMA Investing LLC lifted its holdings in shares of Quanex Building Products by 157.1% in the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after purchasing an additional 1,090 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of Quanex Building Products in the 1st quarter worth $145,000. SG Americas Securities LLC bought a new position in shares of Quanex Building Products in the 1st quarter worth $216,000. Mutual of America Capital Management LLC bought a new position in shares of Quanex Building Products in the 1st quarter worth $219,000. Finally, Quadrature Capital Ltd bought a new position in shares of Quanex Building Products in the 3rd quarter worth $230,000. 97.48% of the stock is currently owned by institutional investors.

About Quanex Building Products

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.