Quanex Building Products (NYSE:NX) Price Target Cut to $28.00 by Analysts at Benchmark

Quanex Building Products (NYSE:NX) had its price objective decreased by Benchmark from $30.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Benchmark’s price target suggests a potential upside of 70.36% from the stock’s current price.

NX has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Wednesday, October 8th. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.00.

Quanex Building Products Stock Up 9.0%

Quanex Building Products stock opened at $16.44 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.04 and a quick ratio of 1.14. The stock has a market capitalization of $754.08 million, a PE ratio of -2.99, a price-to-earnings-growth ratio of 0.55 and a beta of 0.97. The business has a 50 day simple moving average of $13.72 and a 200-day simple moving average of $16.86. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $28.71.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $489.85 million for the quarter, compared to analysts’ expectations of $472.62 million. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%. During the same quarter last year, the company earned $0.61 EPS. On average, analysts anticipate that Quanex Building Products will post 2.18 EPS for the current fiscal year.

Institutional Trading of Quanex Building Products

A number of hedge funds have recently bought and sold shares of the business. Danske Bank A S purchased a new position in Quanex Building Products in the 3rd quarter worth approximately $26,000. CWM LLC increased its holdings in shares of Quanex Building Products by 104.5% in the second quarter. CWM LLC now owns 1,468 shares of the construction company’s stock valued at $28,000 after purchasing an additional 750 shares during the last quarter. Allworth Financial LP lifted its position in Quanex Building Products by 17,191.7% during the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock worth $39,000 after buying an additional 2,063 shares in the last quarter. Quarry LP lifted its position in Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after buying an additional 2,136 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in Quanex Building Products during the third quarter worth $72,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.