Quanex Building Products (NYSE:NX) Upgraded at StockNews.com

Quanex Building Products (NYSE:NX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Price Performance

NYSE NX opened at $29.16 on Friday. The stock’s 50-day moving average price is $29.38 and its two-hundred day moving average price is $29.18. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.38 billion, a PE ratio of 12.96, a PEG ratio of 0.92 and a beta of 1.24. Quanex Building Products has a 1 year low of $24.85 and a 1 year high of $39.31.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The company had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the previous year, the business posted $0.97 EPS. On average, analysts predict that Quanex Building Products will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Quanex Building Products

Large investors have recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in Quanex Building Products during the third quarter worth approximately $15,343,000. State Street Corp boosted its position in Quanex Building Products by 28.1% during the third quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after purchasing an additional 351,778 shares during the period. Geode Capital Management LLC boosted its position in Quanex Building Products by 37.9% during the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after purchasing an additional 286,128 shares during the period. Hennessy Advisors Inc. bought a new stake in Quanex Building Products during the second quarter worth approximately $6,263,000. Finally, Janus Henderson Group PLC boosted its position in Quanex Building Products by 318.9% during the third quarter. Janus Henderson Group PLC now owns 232,428 shares of the construction company’s stock worth $6,447,000 after purchasing an additional 176,949 shares during the period. Institutional investors 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.