Quanex Building Products (NYSE:NX) Rating Lowered to “Hold” at Wall Street Zen

Quanex Building Products (NYSE:NX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also commented on NX. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Thursday, January 22nd. Benchmark dropped their price objective on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, December 15th. Finally, Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.00.

Quanex Building Products Price Performance

NX opened at $16.88 on Friday. The company has a market capitalization of $775.25 million, a price-to-earnings ratio of -3.21, a PEG ratio of 0.62 and a beta of 0.91. The company has a current ratio of 2.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.93. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $22.98. The business’s fifty day simple moving average is $19.38 and its 200-day simple moving average is $16.44.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%.The firm had revenue of $409.09 million during the quarter, compared to the consensus estimate of $405.75 million. On average, equities research analysts anticipate that Quanex Building Products will post 2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $15.94, for a total transaction of $1,904,590.90. Following the completion of the sale, the insider directly owned 4,421,879 shares of the company’s stock, valued at approximately $70,484,751.26. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NX. Danske Bank A S purchased a new position in shares of Quanex Building Products in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its position in Quanex Building Products by 199.9% during the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,415 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Quanex Building Products in the fourth quarter valued at approximately $35,000. Allworth Financial LP boosted its stake in Quanex Building Products by 17,191.7% in the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock valued at $39,000 after acquiring an additional 2,063 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Quanex Building Products in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.