Quanex Building Products Corporation (NX) is Downgraded by KeyBanc Capital Mkts to Sector Weight

Quanex Building Products Corporation (NX) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Oct 18, 2016.

Many Wall Street Analysts have commented on Quanex Building Products Corporation. Shares were Reiterated by Imperial Capital on Sep 8, 2016 to “Outperform” and Lowered the Price Target to $ 22.50 from a previous price target of $25 .

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 opened for trading at $16.8 and hit $17.2 on the upside on Friday, eventually ending the session at $16.9, with a gain of 0.90% or 0.15 points. The heightened volatility saw the trading volume jump to 1,20,935 shares. Company has a market cap of $578 M.

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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