Quanex Building Products Corporation (NX) Downgraded to “Sell” at BidaskClub

Quanex Building Products Corporation (NYSE:NX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 1st.

Separately, Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Quanex Building Products Corporation in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.75.

Quanex Building Products Corporation (NYSE:NX) opened at 19.25 on Tuesday. The stock’s 50 day moving average is $21.02 and its 200-day moving average is $20.26. The firm’s market capitalization is $657.52 million. Quanex Building Products Corporation has a 52-week low of $15.40 and a 52-week high of $22.65.

Quanex Building Products Corporation (NYSE:NX) last posted its quarterly earnings data on Tuesday, May 30th. The construction company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Quanex Building Products Corporation had a positive return on equity of 7.70% and a negative net margin of 0.09%. The company had revenue of $209.10 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same period in the prior year, the business earned $0.11 earnings per share. Quanex Building Products Corporation’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities analysts expect that Quanex Building Products Corporation will post $0.79 earnings per share for the current year.

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In related news, SVP Kevin P. Delaney sold 9,971 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $21.53, for a total value of $214,675.63. Following the completion of the transaction, the senior vice president now directly owns 113,442 shares of the company’s stock, valued at $2,442,406.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin P. Delaney sold 59,700 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $21.35, for a total value of $1,274,595.00. Following the completion of the transaction, the senior vice president now directly owns 133,471 shares of the company’s stock, valued at $2,849,605.85. The disclosure for this sale can be found here. Insiders sold 104,809 shares of company stock valued at $2,230,713 over the last three months. 5.32% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its position in shares of Quanex Building Products Corporation by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 6,746 shares of the construction company’s stock valued at $142,000 after buying an additional 2,946 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Quanex Building Products Corporation by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,938 shares of the construction company’s stock valued at $161,000 after buying an additional 403 shares during the period. Mason Street Advisors LLC boosted its position in shares of Quanex Building Products Corporation by 7.6% in the first quarter. Mason Street Advisors LLC now owns 8,045 shares of the construction company’s stock valued at $163,000 after buying an additional 568 shares during the period. Trexquant Investment LP bought a new position in shares of Quanex Building Products Corporation during the first quarter worth about $217,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of Quanex Building Products Corporation by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the construction company’s stock worth $284,000 after buying an additional 200 shares during the last quarter. 99.45% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Corporation Company Profile

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