Quanex Building Products Co. (NYSE:NX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Quanex Building Products Co. (NYSE:NX) have earned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.00.

Separately, Zacks Investment Research downgraded Quanex Building Products from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 10th.

A number of large investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Quanex Building Products by 591.7% during the 1st quarter. FMR LLC now owns 1,757 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,503 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Quanex Building Products by 213.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,617 shares of the construction company’s stock worth $41,000 after acquiring an additional 1,783 shares during the period. Smith Asset Management Group LP purchased a new position in shares of Quanex Building Products during the 2nd quarter worth approximately $69,000. Meeder Asset Management Inc. grew its holdings in shares of Quanex Building Products by 257.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,282 shares of the construction company’s stock worth $118,000 after acquiring an additional 4,524 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Quanex Building Products by 191.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,727 shares of the construction company’s stock worth $123,000 after acquiring an additional 5,075 shares during the period. Institutional investors own 97.63% of the company’s stock.

NYSE:NX traded up $0.01 during mid-day trading on Monday, reaching $17.28. 89,800 shares of the company’s stock traded hands, compared to its average volume of 191,702. Quanex Building Products has a 12-month low of $10.70 and a 12-month high of $19.75. The firm has a market capitalization of $564.72 million, a price-to-earnings ratio of 26.58 and a beta of 1.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.32 and a quick ratio of 1.30. The company has a 50 day moving average price of $18.10 and a 200-day moving average price of $16.94.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Tuesday, June 4th. The construction company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. Quanex Building Products had a positive return on equity of 5.90% and a negative net margin of 1.15%. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $219.53 million. During the same quarter in the previous year, the business earned $0.14 EPS. Quanex Building Products’s revenue was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Quanex Building Products will post 0.85 EPS for the current year.

About Quanex Building Products

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, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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