Quanex Building Products (NX) Stock Rating Lowered by Wedbush

Quanex Building Products (NYSE:NX) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday.

Other analysts also recently issued reports about the company. TheStreet upgraded Quanex Building Products from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. KeyCorp reiterated a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.00.

Shares of Quanex Building Products (NYSE:NX) opened at $24.05 on Monday. The company has a current ratio of 1.80, a quick ratio of 0.93 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $828.38, a price-to-earnings ratio of 31.23 and a beta of 0.70. 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 posted its earnings results on Monday, December 11th. The construction company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.08. The company 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%. Quanex Building Products’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. equities analysts predict that Quanex Building Products will post 0.7 EPS for the current year.

In other news, VP Brent L. Korb sold 17,500 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $21.15, for a total value of $370,125.00. Following the completion of the transaction, the vice president now directly owns 94,679 shares of the company’s stock, valued at $2,002,460.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin P. Delaney sold 50,400 shares of the business’s stock in a transaction on Friday, December 15th. The stock was 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 of the company’s stock, valued at $2,678,878.54. The disclosure for this sale can be found here. 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. BNP Paribas Arbitrage SA raised its holdings in shares of Quanex Building Products by 36.5% in the second quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock worth $229,000 after acquiring an additional 2,895 shares during the last quarter. Wolverine Trading LLC acquired a new position in shares of Quanex Building Products in the third quarter worth $231,000. Trexquant Investment LP acquired a new position in shares of Quanex Building Products in the third quarter worth $271,000. Municipal Employees Retirement System of Michigan increased its stake in Quanex Building Products by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock valued at $297,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Quanex Building Products in the third quarter valued at $299,000. 99.81% of the stock is owned by institutional investors.

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