Quanex Building Products Corporation (NX) is Reiterated by Imperial Capital to Outperform, Lowers Price Target to $ 22.50

Quanex Building Products Corporation (NX) was Reiterated by Imperial Capital to “Outperform” while Lowering the Price Target of the company shares to $ 22.50 from a previous price target of $25 . Imperial Capital advised their investors in a research report released on Sep 8, 2016.

On the company’s financial health, Quanex Building Products Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Sep 6, 2016. Analyst had a consensus of $0.29. The company had revenue of $248.09 million for the quarter, compared to analysts expectations of $254.01 million. The company’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Quanex Building Products Corporation closed down -1.29 points or -6.55% at $18.39 with 984,028 shares getting traded on Wednesday. Post opening the session at $18, the shares hit an intraday low of $17.0301 and an intraday high of $18.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 10, 2016, Scott M. Zuehlke (VP, IR & Treasurer) purchased 610 shares at $16.30 per share price. According to the SEC, on Sep 16, 2015, Leroy D Nosbaum (director) purchased 2,500 shares at $19.70 per share price.

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. Its Engineered Products segment consists of four operating segments focused on the fenestration market primarily within North America. Its International Extrusion segment consists of a United Kingdom-based vinyl extrusion business. It also manufactures certain non-fenestration components and products which include solar panel sealants fencing water retention barriers hardware and conservatory roof components. It serves a customer base in North America and the United Kingdom and also serves customers in international markets through its operating plants in the United Kingdom and Germany.

Quanex Building Products Corporation

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