Quanex Building Products (NYSE:NX) Stock Rating Reaffirmed by Benchmark

Quanex Building Products (NYSE:NX)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a research note issued on Tuesday, Benzinga reports. They presently have a $38.00 price objective on the construction company’s stock. Benchmark’s target price would indicate a potential upside of 12.79% from the stock’s previous close.

Quanex Building Products Trading Down 3.1 %

NYSE NX opened at $33.69 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31. The stock has a market capitalization of $1.12 billion, a P/E ratio of 12.81, a PEG ratio of 1.00 and a beta of 1.35. The firm’s 50-day moving average is $35.68 and its two-hundred day moving average is $32.15. Quanex Building Products has a 12 month low of $18.71 and a 12 month high of $39.31.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. The firm had revenue of $239.16 million for the quarter, compared to analyst estimates of $232.90 million. On average, sell-side analysts anticipate that Quanex Building Products will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other Quanex Building Products news, SVP Paul Cornett sold 3,064 shares of Quanex Building Products stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.72, for a total value of $115,574.08. Following the completion of the transaction, the senior vice president now directly owns 43,902 shares of the company’s stock, valued at approximately $1,655,983.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NX. Strs Ohio acquired a new stake in shares of Quanex Building Products in the third quarter valued at $59,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Quanex Building Products during the third quarter worth about $67,000. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 157.1% during the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after buying an additional 1,090 shares during the period. Quantbot Technologies LP acquired a new stake in Quanex Building Products in the third quarter valued at approximately $83,000. Finally, Acadian Asset Management LLC purchased a new position in Quanex Building Products in the third quarter worth approximately $112,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.