Quanex Building Products Corp. (NX) Given Outperform Rating at Wedbush
Quanex Building Products Corp. (NYSE:NX)‘s stock had its “outperform” rating reiterated by Wedbush in a report issued on Monday. They currently have a $23.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 31.43% from the stock’s current price.
NX has been the topic of a number of other reports. TheStreet downgraded shares of Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Imperial Capital reissued an “outperform” rating and set a $25.00 target price on shares of Quanex Building Products Corp. in a research report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.63.
Quanex Building Products Corp. (NYSE:NX) traded up 1.27% on Monday, hitting $17.50. The company had a trading volume of 50,511 shares. The stock has a market cap of $594.14 million, a P/E ratio of 233.33 and a beta of 1.15. The firm’s 50 day moving average price is $18.21 and its 200 day moving average price is $18.86. Quanex Building Products Corp. has a 12-month low of $15.33 and a 12-month high of $21.66.
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Quanex Building Products Corp. (NYSE:NX) last posted its quarterly earnings results on Tuesday, September 6th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Quanex Building Products Corp. had a net margin of 0.30% and a return on equity of 6.25%. The business had revenue of $248.10 million for the quarter. During the same period last year, the company posted $0.28 earnings per share. The company’s revenue was up 37.7% compared to the same quarter last year. Equities analysts predict that Quanex Building Products Corp. will post $0.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, September 14th. Quanex Building Products Corp.’s payout ratio is 228.60%.
Large investors have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC increased its stake in shares of Quanex Building Products Corp. by 142.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,642,678 shares of the company’s stock valued at $28,516,000 after buying an additional 964,118 shares in the last quarter. Investment Counselors of Maryland LLC acquired a new stake in shares of Quanex Building Products Corp. during the second quarter valued at about $12,968,000. Wedge Capital Management L L P NC acquired a new stake in shares of Quanex Building Products Corp. during the second quarter valued at about $10,032,000. Renaissance Technologies LLC increased its stake in shares of Quanex Building Products Corp. by 29.7% in the first quarter. Renaissance Technologies LLC now owns 1,273,000 shares of the company’s stock valued at $22,099,000 after buying an additional 291,300 shares in the last quarter. Finally, Chartwell Investment Partners LLC acquired a new stake in shares of Quanex Building Products Corp. during the second quarter valued at about $4,628,000. 94.55% of the stock is currently owned by institutional investors.
About Quanex Building Products Corp.
Quanex Building Products Corporation manufactures components primarily for the window and door (fenestration) industry, including insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products for original equipment manufacturers (OEMs). The Company’s segments include Engineered Products, International Extrusion, and Corporate & Other.
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