NCI Building Systems (NCS) Board of Directors Authorizes Share Repurchase Program
NCI Building Systems (NYSE:NCS) announced that its Board of Directors has initiated a share repurchase plan, which permits the company to repurchase $50.00 million in shares on Tuesday, October 10th, EventVestor reports. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
A number of analysts recently issued reports on NCS shares. Barclays PLC reiterated a “buy” rating and issued a $16.00 price target (down previously from $19.00) on shares of NCI Building Systems in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $20.00 price target on shares of NCI Building Systems in a report on Tuesday, July 18th. Zacks Investment Research lowered NCI Building Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub lowered NCI Building Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.13.
Shares of NCI Building Systems (NYSE NCS) traded up 2.724% during mid-day trading on Wednesday, hitting $16.025. The company had a trading volume of 100,032 shares. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 20.285 and a beta of 1.55. NCI Building Systems has a 52-week low of $13.05 and a 52-week high of $18.60. The firm has a 50-day moving average price of $15.43 and a 200 day moving average price of $16.68.
NCI Building Systems (NYSE:NCS) last posted its quarterly earnings data on Wednesday, September 6th. The construction company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.05). NCI Building Systems had a return on equity of 18.31% and a net margin of 3.18%. The company had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $495.21 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that NCI Building Systems will post $0.80 earnings per share for the current year.
In other NCI Building Systems news, insider Norman C. Chambers sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $17.74, for a total value of $798,300.00. Following the completion of the transaction, the insider now owns 476,403 shares of the company’s stock, valued at approximately $8,451,389.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James S. Metcalf purchased 30,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $13.42 per share, with a total value of $402,600.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at $402,600. The disclosure for this purchase can be found here. Company insiders own 1.78% of the company’s stock.
About NCI Building Systems
NCI Building Systems, Inc is a manufacturer and marketer of metal products in North America. The Company’s operating segments include Engineered building systems, Metal components and Metal coil coating. The Engineered building systems segment is engaged in the manufacturing of main frames and long bay systems, and engineering and drafting.
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