Quanex Building Products Corporation (NYSE:NX) Stock Rating Upgraded by Zacks Investment Research

Quanex Building Products Corporation (NYSE:NX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

Other research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Quanex Building Products Corporation in a research report on Wednesday, July 19th. Sidoti started coverage on Quanex Building Products Corporation in a research report on Monday, August 7th. They issued a “buy” rating on the stock. Finally, BidaskClub lowered Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.75.

Quanex Building Products Corporation (NX) opened at 19.90 on Thursday. Quanex Building Products Corporation has a 12 month low of $15.41 and a 12 month high of $22.65. The stock’s market cap is $679.72 million. The stock has a 50 day moving average price of $21.20 and a 200-day moving average price of $20.29.

Quanex Building Products Corporation (NYSE:NX) last announced its earnings results on Tuesday, May 30th. The construction company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Quanex Building Products Corporation had a positive return on equity of 7.70% and a negative net margin of 0.09%. The business had revenue of $209.10 million during the quarter, compared to the consensus estimate of $205.27 million. During the same period in the prior year, the business posted $0.11 earnings per share. Quanex Building Products Corporation’s revenue was down 8.9% compared to the same quarter last year. On average, analysts expect that Quanex Building Products Corporation will post $0.79 EPS for the current year.

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In other news, SVP Kevin P. Delaney sold 13,642 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $21.01, for a total transaction of $286,618.42. Following the completion of the sale, the senior vice president now owns 111,991 shares in the company, valued at approximately $2,352,930.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin P. Delaney sold 59,700 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $21.35, for a total value of $1,274,595.00. Following the sale, the senior vice president now owns 133,471 shares of the company’s stock, valued at approximately $2,849,605.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,809 shares of company stock valued at $2,230,713. 5.32% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its stake in shares of Quanex Building Products Corporation by 7.5% in the first quarter. Parametric Portfolio Associates LLC now owns 61,042 shares of the construction company’s stock valued at $1,236,000 after buying an additional 4,279 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Quanex Building Products Corporation by 24.9% in the first quarter. Ameriprise Financial Inc. now owns 426,691 shares of the construction company’s stock valued at $8,640,000 after buying an additional 85,102 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Quanex Building Products Corporation by 5.6% in the first quarter. TD Asset Management Inc. now owns 38,970 shares of the construction company’s stock valued at $789,000 after buying an additional 2,070 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Quanex Building Products Corporation by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,938 shares of the construction company’s stock valued at $161,000 after buying an additional 403 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Quanex Building Products Corporation by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 479,834 shares of the construction company’s stock valued at $9,717,000 after buying an additional 22,970 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

Quanex Building Products Corporation Company Profile

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