Wall Street Zen Downgrades Quanex Building Products (NYSE:NX) to Hold

Quanex Building Products (NYSE:NX) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages have also recently issued reports on NX. Benchmark lowered their target price on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, December 15th. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Quanex Building Products has a consensus rating of “Hold” and a consensus price target of $28.00.

Quanex Building Products Price Performance

Shares of NYSE:NX opened at $16.88 on Friday. The firm has a market capitalization of $775.25 million, a PE ratio of -3.21, a P/E/G ratio of 0.61 and a beta of 0.91. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $19.38 and a two-hundred day moving average price of $16.36. Quanex Building Products has a twelve month low of $11.04 and a twelve month high of $22.98.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. Equities analysts forecast that Quanex Building Products will post 2.18 EPS for the current year.

Insider Transactions at Quanex Building Products

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $15.94, for a total value of $1,904,590.90. Following the completion of the transaction, the insider directly owned 4,421,879 shares of the company’s stock, valued at $70,484,751.26. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Danske Bank A S bought a new stake in Quanex Building Products during the third quarter valued at $26,000. Hantz Financial Services Inc. increased its stake in Quanex Building Products by 199.9% in the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,415 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Quanex Building Products in the 4th quarter worth about $35,000. Allworth Financial LP raised its holdings in shares of Quanex Building Products by 17,191.7% in the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock valued at $39,000 after acquiring an additional 2,063 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Quanex Building Products during the 4th quarter valued at about $42,000. Institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.