Quanex Building Products (NYSE:NX) Receives Buy Rating from Benchmark

Quanex Building Products (NYSE:NX)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $38.00 target price on the construction company’s stock. Benchmark’s price target points to a potential upside of 11.34% from the stock’s current price.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock traded up $0.44 during midday trading on Tuesday, hitting $34.13. 150,217 shares of the company traded hands, compared to its average volume of 155,201. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 2.27. The firm’s fifty day moving average price is $35.63 and its 200-day moving average price is $32.10. Quanex Building Products has a 12 month low of $18.71 and a 12 month high of $39.31.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. The business had revenue of $239.16 million for the quarter, compared to the consensus estimate of $232.90 million. As a group, sell-side analysts forecast that Quanex Building Products will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Paul Cornett sold 3,064 shares of Quanex Building Products stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total transaction of $115,574.08. Following the sale, the senior vice president now directly owns 43,902 shares in the company, valued at approximately $1,655,983.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC lifted its position in shares of Quanex Building Products by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 27,673 shares of the construction company’s stock valued at $846,000 after acquiring an additional 354 shares during the period. Ritholtz Wealth Management lifted its position in shares of Quanex Building Products by 2.0% during the 4th quarter. Ritholtz Wealth Management now owns 18,946 shares of the construction company’s stock valued at $579,000 after acquiring an additional 373 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Quanex Building Products by 4.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,126 shares of the construction company’s stock valued at $462,000 after acquiring an additional 641 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Quanex Building Products by 1.5% during the 1st quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock valued at $1,687,000 after acquiring an additional 660 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Quanex Building Products by 157.1% during the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after acquiring an additional 1,090 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.