Quanex Building Products Corporation (NX) Upgraded by Zacks Investment Research to Hold

Quanex Building Products Corporation (NYSE:NX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “QUANEX BUILDING PRODUCTS CORPORATION is a leading manufacturer of engineered materials and components for the U.S. building products market. The Company operates two segments: Engineered Building Products designs proprietary window and door systems and produces fabricated metal, wood and vinyl window and door components, spacer/sealant systems and other products for major window and door manufacturers that primarily serve the residential construction and remodeling markets. Aluminum Sheet Building Products produces coated and mill finish aluminum sheet products for the building and construction market, as well as other capital goods and transportation markets. “

A number of other brokerages also recently commented on NX. BidaskClub downgraded Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Sidoti assumed coverage on Quanex Building Products Corporation in a research note on Monday. They set a “buy” rating for the company. Finally, Wedbush restated an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.75.

Quanex Building Products Corporation (NX) opened at 20.90 on Thursday. The stock’s market capitalization is $713.88 million. The company has a 50-day moving average of $21.27 and a 200-day moving average of $20.26. Quanex Building Products Corporation has a 52-week low of $15.41 and a 52-week high of $22.65.

Quanex Building Products Corporation (NYSE:NX) last issued its quarterly earnings data on Tuesday, May 30th. The construction company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. The firm had revenue of $209.10 million during the quarter, compared to the consensus estimate of $205.27 million. Quanex Building Products Corporation had a positive return on equity of 7.70% and a negative net margin of 0.09%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Equities research analysts expect that Quanex Building Products Corporation will post $0.79 EPS for the current year.

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In other news, SVP Kevin P. Delaney sold 21,275 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $21.16, for a total value of $450,179.00. Following the completion of the transaction, the senior vice president now owns 103,963 shares of the company’s stock, valued at $2,199,857.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin P. Delaney sold 59,700 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $21.35, for a total value of $1,274,595.00. Following the completion of the transaction, the senior vice president now directly owns 133,471 shares of the company’s stock, valued at approximately $2,849,605.85. The disclosure for this sale can be found here. In the last three months, insiders sold 104,809 shares of company stock valued at $2,230,713. Company insiders own 5.32% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NX. BlackRock Inc. boosted its position in Quanex Building Products Corporation by 47,018.6% in the first quarter. BlackRock Inc. now owns 4,691,600 shares of the construction company’s stock valued at $95,005,000 after buying an additional 4,681,643 shares during the last quarter. Praesidium Investment Management Company LLC boosted its position in Quanex Building Products Corporation by 0.5% in the first quarter. Praesidium Investment Management Company LLC now owns 3,347,191 shares of the construction company’s stock valued at $67,781,000 after buying an additional 16,251 shares during the last quarter. Vanguard Group Inc. boosted its position in Quanex Building Products Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,027,319 shares of the construction company’s stock valued at $61,304,000 after buying an additional 115,239 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Quanex Building Products Corporation by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,748,304 shares of the construction company’s stock valued at $55,653,000 after buying an additional 158,417 shares during the last quarter. Finally, Cooke & Bieler LP boosted its position in Quanex Building Products Corporation by 2.8% in the second quarter. Cooke & Bieler LP now owns 2,181,942 shares of the construction company’s stock valued at $46,148,000 after buying an additional 58,578 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

About Quanex Building Products Corporation

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