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

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

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

Quanex Building Products Stock Down 0.7 %

Quanex Building Products stock opened at $26.91 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.37 and a debt-to-equity ratio of 0.09. Quanex Building Products has a 1-year low of $24.97 and a 1-year high of $39.31. The firm’s fifty day simple moving average is $31.54 and its 200-day simple moving average is $32.89. The company has a market capitalization of $890.99 million, a P/E ratio of 11.03, a P/E/G ratio of 0.85 and a beta of 1.29.

Quanex Building Products (NYSE:NX) last posted its earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share 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 company had revenue of $266.20 million for the quarter, compared to analyst estimates of $268.80 million. During the same period last year, the company earned $0.66 earnings per share. Sell-side analysts forecast that Quanex Building Products will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of Quanex Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EMC Capital Management raised its position in shares of Quanex Building Products by 55.9% during the first quarter. EMC Capital Management now owns 9,448 shares of the construction company’s stock valued at $363,000 after buying an additional 3,387 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Quanex Building Products by 14.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock valued at $363,000 after acquiring an additional 1,171 shares during the period. Shell Asset Management Co. acquired a new position in Quanex Building Products in the 1st quarter valued at approximately $145,000. CANADA LIFE ASSURANCE Co raised its holdings in Quanex Building Products by 4.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock valued at $1,145,000 after acquiring an additional 1,390 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Quanex Building Products in the 1st quarter worth approximately $437,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.