Quanex Building Products Corporation (NX) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Quanex Building Products Corporation (NYSE:NX) from a strong sell rating to a hold rating in a report released on Thursday.

According to Zacks, “QUANEX BUILDING PRODUCTS CORPORATION is a leading manufacturer of engineered materials and components for the U.S. building products market. The Company operates two segments: Engineered Building Products designs proprietary window and door systems and produces fabricated metal, wood and vinyl window and door components, spacer/sealant systems and other products for major window and door manufacturers that primarily serve the residential construction and remodeling markets. Aluminum Sheet Building Products produces coated and mill finish aluminum sheet products for the building and construction market, as well as other capital goods and transportation markets. “

A number of other research analysts also recently issued reports on the company. KeyCorp reissued a hold rating on shares of Quanex Building Products Corporation in a research note on Friday, October 27th. Wedbush reissued an outperform rating and issued a $25.00 price objective on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. BidaskClub downgraded Quanex Building Products Corporation from a sell rating to a strong sell rating in a research note on Friday, August 18th. Sidoti started coverage on Quanex Building Products Corporation in a research note on Monday, August 7th. They issued a buy rating on the stock. Finally, TheStreet raised Quanex Building Products Corporation from a c rating to a b- rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of C$24.00.

Shares of Quanex Building Products Corporation (NYSE:NX) traded down C$0.05 during trading hours on Thursday, hitting C$21.40. The stock had a trading volume of 63,342 shares, compared to its average volume of 136,214. The firm has a market cap of $737.10, a P/E ratio of 25.18 and a beta of 0.70. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.79 and a quick ratio of 0.93. Quanex Building Products Corporation has a 12 month low of C$16.45 and a 12 month high of C$23.60.

Quanex Building Products Corporation (NYSE:NX) last announced its quarterly earnings data on Wednesday, September 6th. The company reported C$0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.01). The business had revenue of C$229.40 million during the quarter, compared to analyst estimates of C$235.45 million. Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. research analysts predict that Quanex Building Products Corporation will post 0.85 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by BBNS and is owned by of BBNS. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this news story can be read at https://baseballnewssource.com/markets/quanex-building-products-corporation-nx-upgraded-by-zacks-investment-research-to-hold/1767808.html.

In related news, VP Brent L. Korb sold 17,500 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of C$21.15, for a total value of C$370,125.00. Following the completion of the sale, the vice president now directly owns 94,679 shares of the company’s stock, valued at approximately C$2,002,460.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.32% of the company’s stock.

A number of institutional investors have recently modified their holdings of NX. State of Alaska Department of Revenue increased its position in Quanex Building Products Corporation by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the company’s stock valued at $142,000 after buying an additional 2,946 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Quanex Building Products Corporation by 36.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the company’s stock valued at $229,000 after buying an additional 2,895 shares in the last quarter. Trexquant Investment LP bought a new stake in Quanex Building Products Corporation in the 3rd quarter valued at about $271,000. Municipal Employees Retirement System of Michigan increased its position in Quanex Building Products Corporation by 59.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the company’s stock valued at $297,000 after buying an additional 4,800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Quanex Building Products Corporation in the 3rd quarter valued at about $299,000. 99.74% of the stock is owned by institutional investors and hedge funds.

About Quanex Building Products Corporation

Get a free copy of the Zacks research report on Quanex Building Products Corporation (NX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quanex Building Products Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.