Quanex Building Products (NX) Lifted to Buy at Zacks Investment Research

Quanex Building Products (NYSE:NX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $20.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.70% from the company’s previous close.

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. “

A number of other equities analysts also recently weighed in on the company. Wedbush downgraded Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Monday, December 18th. KeyCorp reissued a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.50.

Quanex Building Products (NX) opened at $18.40 on Thursday. The firm has a market capitalization of $640.04, a P/E ratio of 23.70 and a beta of 0.57. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54. Quanex Building Products has a 12-month low of $17.45 and a 12-month high of $24.60.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm 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 business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. equities analysts forecast that Quanex Building Products will post 0.9 EPS for the current year.

In other news, VP Dewayne Williams sold 8,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $23.36, for a total value of $189,216.00. Following the transaction, the vice president now owns 16,672 shares of the company’s stock, valued at $389,457.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin P. Delaney sold 50,400 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $24.02, for a total value of $1,210,608.00. Following the completion of the transaction, the senior vice president now directly owns 111,527 shares in the company, valued at approximately $2,678,878.54. The disclosure for this sale can be found here. Insiders sold 78,921 shares of company stock worth $1,861,684 in the last ninety days. 5.32% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC grew its position in shares of Quanex Building Products by 140.9% in the second quarter. Voya Investment Management LLC now owns 41,144 shares of the construction company’s stock valued at $870,000 after purchasing an additional 24,067 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Quanex Building Products by 3.4% in the second quarter. Vanguard Group Inc. now owns 3,131,357 shares of the construction company’s stock valued at $66,228,000 after purchasing an additional 104,038 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Quanex Building Products by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 18,062 shares of the construction company’s stock valued at $415,000 after purchasing an additional 7,229 shares during the last quarter. Northern Trust Corp grew its position in shares of Quanex Building Products by 1.1% in the second quarter. Northern Trust Corp now owns 435,605 shares of the construction company’s stock valued at $9,214,000 after purchasing an additional 4,736 shares during the last quarter. Finally, State Street Corp grew its position in shares of Quanex Building Products by 5.1% in the second quarter. State Street Corp now owns 837,719 shares of the construction company’s stock valued at $17,720,000 after purchasing an additional 40,540 shares during the last quarter. 98.83% of the stock is currently owned by institutional investors.

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Quanex Building Products Company Profile

Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.

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