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

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

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

Quanex Building Products Trading Up 3.6 %

Shares of Quanex Building Products stock opened at $29.84 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $1.41 billion, a P/E ratio of 13.11, a PEG ratio of 0.70 and a beta of 1.25. Quanex Building Products has a 1 year low of $24.85 and a 1 year high of $39.31. The company’s fifty day moving average is $29.22 and its two-hundred day moving average is $29.35.

Quanex Building Products (NYSE:NX) last announced 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 the consensus estimate of $278.00 million. During the same period last year, the business posted $0.97 EPS. Analysts forecast that Quanex Building Products will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Quanex Building Products by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock worth $92,902,000 after buying an additional 147,444 shares during the period. State Street Corp increased its stake in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after acquiring an additional 351,778 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Quanex Building Products by 14.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock worth $35,810,000 after acquiring an additional 165,121 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Quanex Building Products by 0.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after acquiring an additional 6,566 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Quanex Building Products by 0.3% in the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock worth $32,058,000 after acquiring an additional 3,400 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.