Quanex Building Products Corp. (NX) Stock Rating Reaffirmed by Wedbush
Quanex Building Products Corp. (NYSE:NX)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Monday. They presently have a $23.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 33.10% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Imperial Capital cut their price objective on shares of Quanex Building Products Corp. from $25.00 to $22.50 and set an “outperform” rating for the company in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.63.
Shares of Quanex Building Products Corp. (NYSE:NX) traded up 0.98% on Monday, hitting $17.45. 37,668 shares of the company were exchanged. Quanex Building Products Corp. has a 52-week low of $15.33 and a 52-week high of $21.66. The firm’s 50-day moving average is $18.21 and its 200-day moving average is $18.86. The stock has a market capitalization of $592.45 million, a PE ratio of 232.67 and a beta of 1.15.
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Quanex Building Products Corp. (NYSE:NX) last posted its earnings results on Tuesday, September 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company earned $248.10 million during the quarter. Quanex Building Products Corp. had a net margin of 0.30% and a return on equity of 6.25%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities research analysts predict that Quanex Building Products Corp. will post $0.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.93%. Quanex Building Products Corp.’s dividend payout ratio is currently 228.60%.
Several hedge funds have recently added to or reduced their stakes in NX. Arizona State Retirement System boosted its stake in Quanex Building Products Corp. by 1.1% in the second quarter. Arizona State Retirement System now owns 17,736 shares of the company’s stock worth $330,000 after buying an additional 200 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Quanex Building Products Corp. by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 76,125 shares of the company’s stock worth $1,416,000 after buying an additional 650 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Quanex Building Products Corp. by 5.3% in the second quarter. BlackRock Advisors LLC now owns 16,387 shares of the company’s stock worth $305,000 after buying an additional 831 shares in the last quarter. Prudential Financial Inc. boosted its stake in Quanex Building Products Corp. by 1.7% in the second quarter. Prudential Financial Inc. now owns 82,406 shares of the company’s stock worth $1,532,000 after buying an additional 1,360 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in Quanex Building Products Corp. by 4.2% in the second quarter. Teachers Advisors Inc. now owns 54,953 shares of the company’s stock worth $1,022,000 after buying an additional 2,226 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
Quanex Building Products Corp. Company Profile
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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