Quanex Building Products (NYSE:NX) Shares Gap Up - Time to Buy?

Key Points

• Quanex Building Products shares gapped up on Friday, opening at $16.86 after closing at $16.00 and recently trading around $17.35.
• Wall Street sentiment remains cautious: recent rating changes include sell and strong sell calls, and the stock currently carries a consensus rating of “Reduce” with an average price target of $28.00.
• The company beat quarterly expectations, reporting $0.25 EPS versus $0.22 expected and revenue of $462.37 million, while also paying a quarterly dividend of $0.08 per share for a 1.9% annualized yield.

Quanex Building Products Corporation (NYSE:NX - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $16.00, but opened at $16.86. Quanex Building Products shares last traded at $17.3530, with a volume of 3,697 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NX. Weiss Ratings reissued a "sell (d)" rating on shares of Quanex Building Products in a research note on Tuesday, April 21st. Zacks Research cut shares of Quanex Building Products from a "hold" rating to a "strong sell" rating in a research report on Monday, April 20th. Finally, Wall Street Zen lowered Quanex Building Products from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $28.00.

Quanex Building Products Price Performance

The business's 50 day moving average price is $17.77 and its 200-day moving average price is $18.37. The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93. The company has a market cap of $794.13 million, a PE ratio of -3.07, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. The business had revenue of $462.37 million during the quarter, compared to the consensus estimate of $459.27 million. As a group, analysts forecast that Quanex Building Products Corporation will post 1.66 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.9%. Quanex Building Products's dividend payout ratio (DPR) is currently -5.68%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Danske Bank A S acquired a new stake in Quanex Building Products during the 3rd quarter valued at approximately $26,000. Hantz Financial Services Inc. raised its position in shares of Quanex Building Products by 199.9% in the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company's stock valued at $33,000 after purchasing an additional 1,415 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Quanex Building Products during the 4th quarter valued at approximately $35,000. Meeder Asset Management Inc. purchased a new position in shares of Quanex Building Products during the 4th quarter valued at approximately $42,000. Finally, Quarry LP boosted its stake in shares of Quanex Building Products by 132.0% during the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company's stock valued at $53,000 after buying an additional 2,136 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.

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