Quanex Building Products (NYSE:NX) Stock Price Down 2.6% – What’s Next?

Shares of Quanex Building Products Co. (NYSE:NX) were down 2.6% during mid-day trading on Wednesday . The stock traded as low as $30.06 and last traded at $30.06. Approximately 20,017 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 350,585 shares. The stock had previously closed at $30.87.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Thursday.

Quanex Building Products Price Performance

The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average is $29.22 and its 200 day moving average is $29.36. The company has a market cap of $1.36 billion, a P/E ratio of 12.80, a PEG ratio of 0.70 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The firm had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts anticipate that Quanex Building Products Co. will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Quanex Building Products by 4.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock valued at $1,145,000 after buying an additional 1,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $363,000 after acquiring an additional 1,171 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Quanex Building Products by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock worth $1,702,000 after acquiring an additional 1,000 shares during the period. NorthCrest Asset Manangement LLC purchased a new position in shares of Quanex Building Products in the second quarter valued at $270,000. Finally, Summit Global Investments raised its stake in shares of Quanex Building Products by 17.5% during the 2nd 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 during the period. 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.