Quanex Building Products (NYSE:NX) Upgraded by StockNews.com to Strong-Buy

Quanex Building Products (NYSE:NX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Separately, Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a report on Tuesday, April 23rd.

Quanex Building Products Price Performance

NYSE NX traded up $0.41 during trading hours on Friday, hitting $27.89. 444,534 shares of the company’s stock traded hands, compared to its average volume of 186,788. Quanex Building Products has a 52-week low of $24.97 and a 52-week high of $39.31. The company has a market capitalization of $923.44 million, a PE ratio of 11.43, a PEG ratio of 0.80 and a beta of 1.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.22 and a quick ratio of 1.37. The firm’s 50-day moving average is $30.57 and its 200-day moving average is $32.68.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $268.80 million. Quanex Building Products had a net margin of 7.33% and a return on equity of 16.55%. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities analysts forecast that Quanex Building Products will post 2.33 EPS for the current fiscal year.

Institutional Trading of Quanex Building Products

A number of institutional investors and hedge funds have recently modified their holdings of NX. American Century Companies Inc. boosted its holdings in Quanex Building Products by 19.1% during the third quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock worth $13,041,000 after buying an additional 74,297 shares during the last quarter. Moody National Bank Trust Division increased its position in shares of Quanex Building Products by 22.8% during the 4th quarter. Moody National Bank Trust Division now owns 27,045 shares of the construction company’s stock worth $827,000 after purchasing an additional 5,014 shares during the last quarter. Pacer Advisors Inc. raised its stake in Quanex Building Products by 46.6% in the fourth quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock valued at $24,208,000 after buying an additional 251,892 shares during the period. Ritholtz Wealth Management raised its stake in Quanex Building Products by 2.0% in the 4th quarter. Ritholtz Wealth Management now owns 18,946 shares of the construction company’s stock valued at $579,000 after acquiring an additional 373 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Quanex Building Products by 4.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,126 shares of the construction company’s stock worth $462,000 after purchasing an additional 641 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

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.