Quanex Building Products (NYSE:NX) Cut to “Buy” at Wall Street Zen

Quanex Building Products (NYSE:NX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

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

Quanex Building Products Stock Down 0.7%

Shares of NYSE:NX opened at $19.21 on Friday. The stock has a market capitalization of $880.49 million, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The stock’s 50-day moving average price is $20.12 and its 200-day moving average price is $19.21. The company has a current ratio of 2.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $23.33.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 3rd. The construction company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $501.85 million during the quarter, compared to analyst estimates of $497.51 million. During the same quarter in the previous year, the company posted ($6.04) EPS. On average, equities analysts anticipate that Quanex Building Products will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Paul Cornett sold 5,500 shares of Quanex Building Products stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $21.32, for a total value of $117,260.00. Following the sale, the senior vice president owned 70,074 shares in the company, valued at $1,493,977.68. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NX. Integrated Wealth Concepts LLC bought a new stake in shares of Quanex Building Products during the 2nd quarter valued at about $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Quanex Building Products during the second quarter valued at about $36,000. Allworth Financial LP purchased a new position in shares of Quanex Building Products during the second quarter valued at about $51,000. GAMMA Investing LLC raised its stake in Quanex Building Products by 63.6% in the third quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock worth $99,000 after buying an additional 2,032 shares in the last quarter. Finally, Byrne Asset Management LLC raised its stake in Quanex Building Products by 58.5% in the second quarter. Byrne Asset Management LLC now owns 8,290 shares of the construction company’s stock worth $154,000 after buying an additional 3,060 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Company Profile

Quanex Building Products Corporation is a manufacturer of components used in residential and commercial building products. Its offerings serve window, door, and cabinet makers, with products that include window and door components, screens, hardware, seals and weatherstripping, insulated-glass components, and cabinet doors and related parts. The company sells to manufacturers and other customers in the building-products supply chain. Its operations serve markets in North America and internationally, providing components used in both new construction and renovation projects.