Quanex Building Products (NYSE:NX) Stock Rating Lowered by Wall Street Zen

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

Several other equities research analysts have also issued reports on NX. Weiss Ratings raised shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Benchmark restated a “buy” rating on shares of Quanex Building Products in a research note on Thursday, August 27th. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Stock Performance

NYSE:NX opened at $18.94 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 2.23. The stock has a 50-day simple moving average of $20.03 and a two-hundred day simple moving average of $18.94. The firm has a market capitalization of $867.97 million, a PE ratio of 19.13, a P/E/G ratio of 0.74 and a beta of 0.92. Quanex Building Products has a 52-week low of $11.04 and a 52-week high of $23.33.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Quanex Building Products had a return on equity of 11.61% and a net margin of 2.43%. The firm had revenue of $501.85 million for the quarter, compared to the consensus estimate of $497.51 million. During the same quarter last year, the company earned ($6.04) earnings per share. Analysts forecast that Quanex Building Products will post 1.82 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Quanex Building Products in the second quarter worth $4,967,000. Empowered Funds LLC purchased a new position in Quanex Building Products during the second quarter valued at $3,812,000. Principal Financial Group Inc. grew its stake in Quanex Building Products by 41.7% during the first quarter. Principal Financial Group Inc. now owns 308,194 shares of the construction company’s stock valued at $5,538,000 after acquiring an additional 90,765 shares in the last quarter. Sei Investments Co. grew its stake in Quanex Building Products by 77.7% during the first quarter. Sei Investments Co. now owns 390,870 shares of the construction company’s stock valued at $7,024,000 after acquiring an additional 170,892 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Quanex Building Products in the 2nd quarter valued at $9,501,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

About Quanex Building Products

Quanex Building Products Corporation (NYSE: NX) manufactures energy-efficient, engineered components used primarily in residential and commercial building products. Its offerings support the production of windows, doors, and other fenestration systems, as well as cabinetry and related interior products.

The company’s products include insulating glass components and spacer systems, window and door screens, weatherstripping and sealing products, extruded profiles, and other components designed to improve the performance, durability, and appearance of fenestration products.