The Quanex Building Products Corporation (NX) Cut to “C” at TheStreet, Report finds

The Quanex Building Products Corporation (NX) Cut to “C” at TheStreet, Report finds

A number of other research analysts have also weighed in on NX. Zacks Investment Research raised shares of Quanex Building Products Corporation from a strong sell rating to a hold rating in a report on Wednesday, November 9th. Wedbush reissued an outperform rating and issued a $24.00 target price (up from $23.00) on shares of Quanex Building Products Corporation in a report on Thursday, December 15th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $22.88.

TheStreet cut shares of Quanex Building Products Corporation (NYSE:NX) from a b- rating to a c rating in a research report released on Wednesday morning.

Quanex Building Products Corporation (NYSE:NX) opened at 19.60 on Wednesday. The firm has a 50 day moving average of $20.26 and a 200-day moving average of $19.02. Quanex Building Products Corporation has a 1-year low of $15.33 and a 1-year high of $21.90. The company’s market capitalization is $665.48 million.

Quanex Building Products Corporation (NYSE:NX) last posted its earnings results on Thursday, December 15th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Quanex Building Products Corporation had a negative net margin of 0.20% and a positive return on equity of 7.58%. The firm earned $249.20 million during the quarter. During the same period last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Quanex Building Products Corporation will post $0.94 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of NX. Acrospire Investment Management LLC increased its stake in shares of Quanex Building Products Corporation by 56.9% in the third quarter. Acrospire Investment Management LLC now owns 7,129 shares of the company’s stock worth $123,000 after buying an additional 2,584 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Quanex Building Products Corporation during the second quarter worth about $124,000. Princeton Alpha Management LP bought a new stake in shares of Quanex Building Products Corporation during the third quarter worth about $230,000. Stevens Capital Management LP bought a new stake in shares of Quanex Building Products Corporation during the third quarter worth about $290,000. Finally, Alambic Investment Management L.P. bought a new stake in shares of Quanex Building Products Corporation during the third quarter worth about $413,000. Institutional investors own 97.37% of the company’s stock.

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