Quanex Building Products (NYSE:NX) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Quanex Building Products (NYSE:NX) shares moved above their 200-day moving average, trading as high as $18.62 versus a 200-day average of $18.45.
• The company recently reported better-than-expected quarterly earnings, posting $0.25 EPS on revenue of $462.37 million, both modestly above analyst forecasts.
• Analyst sentiment remains weak overall: the stock has a consensus rating of "Reduce" with a target price of $28.00, while recent calls included a downgrade to "strong sell".

Quanex Building Products Corporation (NYSE:NX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.45 and traded as high as $18.62. Quanex Building Products shares last traded at $18.2570, with a volume of 389,296 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on NX. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Quanex Building Products in a report on Tuesday, April 21st. Zacks Research downgraded Quanex Building Products from a "hold" rating to a "strong sell" rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $28.00.

Quanex Building Products Stock Performance

The stock's 50 day moving average price is $17.50 and its two-hundred day moving average price is $18.45. The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $838.54 million, a price-to-earnings ratio of -3.24, a PEG ratio of 0.80 and a beta of 0.91.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The construction company reported $0.25 EPS 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 firm had revenue of $462.37 million during the quarter, compared to analysts' expectations of $459.27 million. On average, analysts forecast that Quanex Building Products Corporation will post 1.66 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared 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 of this dividend was Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. Quanex Building Products's payout ratio is -5.68%.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently bought and sold shares of NX. Western Standard LLC acquired a new position in shares of Quanex Building Products in the fourth quarter worth $4,219,000. GSA Capital Partners LLP boosted its stake in shares of Quanex Building Products by 81.1% during the fourth quarter. GSA Capital Partners LLP now owns 96,079 shares of the construction company's stock valued at $1,478,000 after acquiring an additional 43,018 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Quanex Building Products by 8.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,874,353 shares of the construction company's stock worth $28,828,000 after purchasing an additional 139,036 shares in the last quarter. Systematic Financial Management LP increased its position in Quanex Building Products by 10.3% during the 4th quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company's stock worth $27,280,000 after purchasing an additional 165,424 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Quanex Building Products during the 4th quarter worth about $1,110,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

About Quanex Building Products

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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