Quanex Building Products (NYSE:NX) downgraded by StockNews.com to “Buy”

Quanex Building Products (NYSE: NX – Get a Rating) was downgraded by StockNews.com from a “strong buy” rating to a “buy” rating in a research report released Saturday to clients and investors.

Separately, Zacks Investment Research upgraded Quanex Building Products from a “hold” rating to a “buy” rating and set a price target of $25.00 for the company in a report released Thursday.

NX stock opened at $22.95 on Friday. The company has a market capitalization of $766.28 million, a price-earnings ratio of 12.75 and a beta of 1.55. The company has a quick ratio of 0.99, a current ratio of 1.58 and a leverage ratio of 0.12. The company has a fifty-day simple moving average of $22.84 and a 200-day simple moving average of $22.66. Quanex Building Products has a 52 week low of $20.32 and a 52 week high of $29.02.

Quanex Building Products (NYSE:NX – Get Rating) last released quarterly earnings data on Thursday, March 3. The construction company reported EPS of $0.34 for the quarter, beating analyst consensus estimates of $0.28 by $0.06. Quanex Building Products achieved a return on equity of 14.96% and a net margin of 5.44%. The company posted revenue of $267.04 million in the quarter, versus a consensus estimate of $243.70 million. During the same period of the previous year, the company posted EPS of $0.27. As a group, analysts expect Quanex Building Products to post earnings per share of 1.87 for the current fiscal year.

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In other Quanex Building Products news, Director Jason Lippert purchased 5,000 shares in a trade dated Tuesday, Dec. 21. The stock was purchased at an average price of $23.40 per share, for a total transaction of $117,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, CEO George Laverne Wilson purchased 4,021 shares in a trade dated Monday, Dec. 27. The shares were acquired at an average price of $24.91 per share, with a total value of $100,163.11. Disclosure of this purchase can be found here. Insiders bought 12,468 shares of the company valued at $301,718 over the past 90 days. Insiders own 3.43% of the shares of the company.

Hedge funds have recently changed their holdings in the company. FMR LLC increased its position in Quanex Building Products shares by 591.7% during the first quarter. FMR LLC now owns 1,757 shares of the construction company worth $28,000 after purchasing an additional 1,503 shares in the last quarter. ProShare Advisors LLC bought a new position in Quanex Building Products in the fourth quarter worth approximately $207,000. Koshinski Asset Management Inc. bought a new position in Quanex Building Products in the third quarter worth approximately $184,000. Metropolitan Life Insurance Co NY increased its holdings in Quanex Building Products by 110,137.5% in the second quarter. Metropolitan Life Insurance Co NY now owns 8,819 shares of the construction company worth $219,000 after acquiring 8,811 additional shares in the last quarter. Finally, Arizona State Retirement System bought a new position in Quanex Building Products in the fourth quarter worth about $224,000. 98.78% of the shares are currently held by institutional investors and hedge funds.

Company Profile Quanex Construction Products (Get a rating)

Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and manufactures energy-efficient fenestration products in addition to kitchen and bathroom cabinet components. The Company operates through the following segments: North American Engineered Components, European Engineered Components, North American Cabinet Components, Unallocated Business and Others.

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