Quanex Building Products Corporation (NYSE:NX) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Friday. The brokerage currently has a $24.00 price objective on the construction company’s stock, down from their previous price objective of $25.00. Wedbush’s price objective would suggest a potential upside of 18.52% from the stock’s previous close. Wedbush also issued estimates for Quanex Building Products Corporation’s Q3 2018 earnings at $0.26 EPS.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Quanex Building Products Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Sidoti began coverage on shares of Quanex Building Products Corporation in a research note on Monday, August 7th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.00.

Quanex Building Products Corporation (NX) opened at 20.25 on Friday. The company’s 50-day moving average is $20.31 and its 200 day moving average is $20.25. The stock’s market capitalization is $691.68 million. Quanex Building Products Corporation has a 1-year low of $15.40 and a 1-year high of $22.65.

Quanex Building Products Corporation (NYSE:NX) last posted its earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.01. Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The firm had revenue of $229.40 million during the quarter, compared to analyst estimates of $235.45 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts predict that Quanex Building Products Corporation will post $0.80 earnings per share for the current year.

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In other Quanex Building Products Corporation news, SVP Kevin P. Delaney sold 59,700 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $21.35, for a total transaction of $1,274,595.00. Following the completion of the transaction, the senior vice president now directly owns 133,471 shares in the company, valued at $2,849,605.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin P. Delaney sold 13,642 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $21.01, for a total transaction of $286,618.42. Following the transaction, the senior vice president now owns 111,991 shares of the company’s stock, valued at $2,352,930.91. The disclosure for this sale can be found here. Insiders have sold 104,809 shares of company stock valued at $2,230,713 over the last 90 days. 5.32% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Quanex Building Products Corporation by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 27,790 shares of the construction company’s stock worth $588,000 after acquiring an additional 970 shares during the period. State Street Corp raised its position in Quanex Building Products Corporation by 5.1% during the second quarter. State Street Corp now owns 837,719 shares of the construction company’s stock worth $17,720,000 after acquiring an additional 40,540 shares during the period. Voya Investment Management LLC raised its position in Quanex Building Products Corporation by 140.9% during the second quarter. Voya Investment Management LLC now owns 41,144 shares of the construction company’s stock worth $870,000 after acquiring an additional 24,067 shares during the period. Dimensional Fund Advisors LP raised its position in Quanex Building Products Corporation by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the construction company’s stock worth $60,474,000 after acquiring an additional 111,005 shares during the period. Finally, Citadel Advisors LLC raised its position in Quanex Building Products Corporation by 1.7% during the second quarter. Citadel Advisors LLC now owns 53,482 shares of the construction company’s stock worth $1,131,000 after acquiring an additional 886 shares during the period. Institutional investors own 99.75% of the company’s stock.

About Quanex Building Products Corporation

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