StockNews.com Downgrades Quanex Building Products (NYSE:NX) to Hold

StockNews.com lowered shares of Quanex Building Products (NYSE:NX) from a buy rating to a hold rating in a report released on Thursday.

Separately, Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Stock Down 6.7 %

Shares of NYSE:NX opened at $28.81 on Thursday. The firm has a fifty day moving average price of $29.22 and a two-hundred day moving average price of $29.36. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. Quanex Building Products has a one year low of $24.85 and a one year high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter last year, the company earned $0.97 earnings per share. Analysts anticipate that Quanex Building Products will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanex Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of NX. Artemis Investment Management LLP purchased a new position in Quanex Building Products in the 3rd quarter worth approximately $15,343,000. State Street Corp grew its stake in Quanex Building Products by 28.1% in the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after buying an additional 351,778 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after purchasing an additional 286,128 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Quanex Building Products in the 2nd quarter valued at $6,263,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Quanex Building Products by 318.9% in the 3rd quarter. Janus Henderson Group PLC now owns 232,428 shares of the construction company’s stock valued at $6,447,000 after purchasing an additional 176,949 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.