Quanex Building Products (NX) Rating Lowered to Sell at Zacks Investment Research
Quanex Building Products (NYSE:NX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Quanex Building Products from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. KeyCorp restated a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. Wedbush upgraded shares of Quanex Building Products from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $25.00 to $24.00 in a research report on Friday, September 8th. Finally, BidaskClub cut shares of Quanex Building Products from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.00.
Quanex Building Products (NYSE:NX) traded up $0.09 during mid-day trading on Wednesday, hitting $23.80. The stock had a trading volume of 205,600 shares, compared to its average volume of 140,771. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.80. The firm has a market cap of $818.04, a P/E ratio of 30.84 and a beta of 0.70. Quanex Building Products has a one year low of $17.45 and a one year high of $24.05.
Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.08. The company had revenue of $233.00 million for the quarter, compared to the consensus estimate of $232.47 million. Quanex Building Products had a return on equity of 7.00% and a net margin of 2.16%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. analysts predict that Quanex Building Products will post 0.72 EPS for the current year.
In related news, VP Brent L. Korb sold 17,500 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $21.15, for a total value of $370,125.00. Following the completion of the sale, the vice president now owns 94,679 shares in the company, valued at approximately $2,002,460.85. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.32% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Wolverine Trading LLC bought a new position in Quanex Building Products during the 3rd quarter worth about $231,000. Dimensional Fund Advisors LP increased its holdings in Quanex Building Products by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,891,182 shares of the construction company’s stock worth $66,352,000 after purchasing an additional 31,873 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Quanex Building Products by 5.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 286,796 shares of the construction company’s stock worth $6,582,000 after purchasing an additional 14,535 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Quanex Building Products by 7.2% during the 3rd quarter. Wells Fargo & Company MN now owns 209,803 shares of the construction company’s stock worth $4,815,000 after purchasing an additional 14,108 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Quanex Building Products during the 3rd quarter worth about $271,000. Hedge funds and other institutional investors own 99.81% of the company’s stock.
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About Quanex Building Products
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