Quanex Building Products (NYSE:NX) Lowered to Hold Rating by StockNews.com

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

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

Quanex Building Products Price Performance

NYSE NX traded down $2.06 on Thursday, reaching $28.81. 438,875 shares of the company’s stock traded hands, compared to its average volume of 261,825. 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 12 month low of $24.85 and a 12 month high of $39.31. The stock has a market cap of $1.36 billion, a PE ratio of 12.80, a P/E/G ratio of 0.75 and a beta of 1.25. The stock has a 50-day simple moving average of $29.22 and a 200 day simple moving average of $29.36.

Quanex Building Products (NYSE:NX) last released its quarterly 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 net margin of 6.88% and a return on equity of 14.68%. The business 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 earnings per share. As a group, research analysts predict that Quanex Building Products will post 2.15 earnings per share for the current year.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors have recently made changes to their positions in NX. CANADA LIFE ASSURANCE Co boosted its position in Quanex Building Products by 4.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock valued at $1,145,000 after purchasing an additional 1,390 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Quanex Building Products by 14.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock valued at $363,000 after purchasing an additional 1,171 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Quanex Building Products by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock valued at $1,702,000 after purchasing an additional 1,000 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in Quanex Building Products during the second quarter valued at about $270,000. Finally, Summit Global Investments boosted its position in Quanex Building Products by 17.5% during the second quarter. Summit Global Investments now owns 26,567 shares of the construction company’s stock valued at $735,000 after purchasing an additional 3,953 shares in the last quarter. Hedge funds and other 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.