KeyBanc downgraded Quanex (NYSE:NX) from Overweight to Sector Weight in a report released today.
- Updated: October 18, 2016
KeyBanc has downgraded Quanex (NYSE:NX) from Overweight to Sector Weight in a report released on Tuesday October 18, 2016.
Yesterday Quanex (NYSE:NX) traded -1.18% lower at $16.70. The company’s 50-day moving average is $17.72 and its 200-day moving average is $18.86. The last closing price is down -11.45% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 57,792 shares of the stock traded hands, down from an average trading volume of 173,880
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Quanex has a 52 week low of $15.33 and a 52 week high of $21.66 with a P/E ratio of 222.67 The company’s market capitalization is currently $0.
In addition to KeyBanc reporting its stock price target, a total of 5 brokerages have issued a ratings update on the company. The average stock price target is $24.40 with 0 brokerages rating the stock a strong buy, 0 brokerages rating the stock a buy, 0 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Quanex (NYSE:NX)
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.
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