Quanex Building Products Corp. (NX) Sees Unusually-High Trading Volume
Quanex Building Products Corp. (NYSE:NX) shares saw strong trading volume on Tuesday . 393,236 shares changed hands during mid-day trading, an increase of 174% from the previous session’s volume of 143,574 shares.The stock last traded at $19.99 and had previously closed at $20.02.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Quanex Building Products Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Imperial Capital reissued an “outperform” rating and issued a $25.00 price objective on shares of Quanex Building Products Corp. in a research note on Tuesday, May 24th. KeyCorp raised Quanex Building Products Corp. from a “sector weight” rating to an “overweight” rating and set a $24.00 price objective on the stock in a research note on Friday, June 10th. Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Quanex Building Products Corp. in a research note on Wednesday, June 1st. Finally, TheStreet raised Quanex Building Products Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Quanex Building Products Corp. currently has an average rating of “Buy” and a consensus price target of $24.00.
The stock has a market capitalization of $672.18 million and a price-to-earnings ratio of 49.85. The company’s 50 day moving average price is $20.20 and its 200 day moving average price is $18.65.
Quanex Building Products Corp. (NYSE:NX) last released its earnings results on Tuesday, May 31st. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm earned $229.50 million during the quarter. The firm’s revenue was up 61.6% compared to the same quarter last year. On average, equities research analysts anticipate that Quanex Building Products Corp. will post $0.82 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Quanex Building Products Corp. stock. Rhumbline Advisers increased its stake in Quanex Building Products Corp. (NYSE:NX) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,078 shares of the company’s stock after buying an additional 1,595 shares during the period. Rhumbline Advisers owned 0.16% of Quanex Building Products Corp. worth $1,107,000 as of its most recent SEC filing.
Quanex Building Products Corporation manufactures components primarily for the window and door (fenestration) industry, including insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products for original equipment manufacturers (OEMs). The Company’s segments include Engineered Products, International Extrusion, and Corporate & Other.