Quanex Building Products (NYSE:NX) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Quanex Building Products (NYSE:NX) from a buy rating to a hold rating in a research report report published on Thursday morning.

Separately, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Stock Up 3.3 %

NX stock opened at $29.76 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $1.41 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.73 and a beta of 1.25. Quanex Building Products has a 52-week low of $24.85 and a 52-week high of $39.31. The company’s 50 day simple moving average is $29.26 and its 200-day simple moving average is $29.28.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same period in the previous year, the business earned $0.97 EPS. As a group, equities research analysts anticipate that Quanex Building Products will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Quanex Building Products by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after buying an additional 147,444 shares in the last quarter. State Street Corp lifted its stake in Quanex Building Products by 28.1% in the third quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after acquiring an additional 351,778 shares during the last quarter. Pacer Advisors Inc. grew its position in Quanex Building Products by 14.6% in the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock worth $35,810,000 after acquiring an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Quanex Building Products by 0.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after purchasing an additional 6,566 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Quanex Building Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock valued at $32,058,000 after purchasing an additional 3,400 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.