Quanex (NX) Lowered to Sell at BidaskClub

Quanex (NYSE:NX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, August 1st.

Separately, Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Quanex in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Quanex currently has a consensus rating of “Hold” and a consensus price target of $22.50.

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Shares of NX stock traded down $0.05 during trading hours on Tuesday, reaching $17.45. The company had a trading volume of 103,978 shares, compared to its average volume of 208,574. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.93 and a quick ratio of 0.90. The firm has a market capitalization of $613.73, a PE ratio of 22.66 and a beta of 0.81. Quanex has a 12-month low of $16.50 and a 12-month high of $24.60.

Quanex (NYSE:NX) last issued its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company had revenue of $191.70 million during the quarter, compared to analyst estimates of $189.95 million. Quanex had a return on equity of 6.72% and a net margin of 3.17%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. equities research analysts expect that Quanex will post 0.93 EPS for the current year.

In other Quanex news, Director Joseph D. Rupp sold 10,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $17.71, for a total transaction of $177,100.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $177,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.32% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Quanex by 8.2% in the fourth quarter. State Street Corp now owns 739,835 shares of the construction company’s stock valued at $15,020,000 after acquiring an additional 56,039 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Quanex in the fourth quarter valued at $1,641,000. Norges Bank acquired a new stake in shares of Quanex in the fourth quarter valued at $9,480,000. Louisiana State Employees Retirement System raised its stake in shares of Quanex by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the construction company’s stock valued at $284,000 after acquiring an additional 200 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Quanex by 32.6% in the first quarter. Fisher Asset Management LLC now owns 85,454 shares of the construction company’s stock valued at $1,730,000 after acquiring an additional 20,990 shares in the last quarter.

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About Quanex

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers; extruded vinyl profiles; window and door screens; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.

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