Zacks Investment Research downgraded shares of NCI Building Systems, Inc. (NYSE:NCS) from a strong-buy rating to a hold rating in a research note released on Tuesday.
According to Zacks, “NCI Building expects performance in second-half 2017 to be better than the first half. For fiscal 2017, the company raised revenue guidance range to $1.80–$1.86 billion from the previous range of $1.75–$1.85 billion. Adjusted EBITDA is now forecasted in the range of $180–$200 million, up from the prior range of $175–$205 million. Its shares have outperformed the industry year to date. The company will benefit from cost-saving initiatives and robust backlog growth. However, rising steel costs, low oil prices, unfavorable foreign currency, increased costs related to restructuring actions will impact profits. “
Several other equities analysts also recently commented on the company. Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 price objective on shares of NCI Building Systems in a research report on Tuesday, July 18th. TheStreet raised NCI Building Systems from a c rating to a b- rating in a research report on Tuesday, June 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $18.50.
Shares of NCI Building Systems (NCS) traded down 0.56% during midday trading on Tuesday, hitting $17.65. 333,053 shares of the company traded hands. NCI Building Systems has a 52 week low of $13.80 and a 52 week high of $18.60. The stock has a market capitalization of $1.25 billion, a PE ratio of 20.60 and a beta of 1.51. The stock has a 50 day moving average of $17.37 and a 200-day moving average of $16.74.
NCI Building Systems (NYSE:NCS) last announced its quarterly earnings data on Tuesday, June 6th. The construction company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The company had revenue of $420.50 million for the quarter, compared to the consensus estimate of $409.24 million. NCI Building Systems had a return on equity of 20.84% and a net margin of 3.50%. NCI Building Systems’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. Equities analysts forecast that NCI Building Systems will post $1.00 earnings per share for the current fiscal year.
In other news, insider Norman C. Chambers sold 45,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $17.74, for a total transaction of $798,300.00. Following the transaction, the insider now owns 476,403 shares of the company’s stock, valued at approximately $8,451,389.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.78% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of NCS. Swiss National Bank increased its position in NCI Building Systems by 23.6% in the second quarter. Swiss National Bank now owns 70,800 shares of the construction company’s stock worth $1,182,000 after buying an additional 13,500 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in NCI Building Systems during the second quarter worth about $461,000. Airain ltd purchased a new position in NCI Building Systems during the second quarter worth about $202,000. Prudential Financial Inc. increased its position in NCI Building Systems by 33.6% in the second quarter. Prudential Financial Inc. now owns 417,409 shares of the construction company’s stock worth $6,971,000 after buying an additional 105,050 shares during the last quarter. Finally, Royce & Associates LP increased its position in NCI Building Systems by 7.8% in the second quarter. Royce & Associates LP now owns 1,448,241 shares of the construction company’s stock worth $24,186,000 after buying an additional 104,532 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors and hedge funds.
NCI Building Systems Company Profile
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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