Alert: Rating Downgrade (7/29/24)-Quanex Building Products Corp (NYSE: NX).

Stock Rating Downgrade

Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Quanex Building Products Corp (NYSE: NX) weakened of late. NX’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.

Recent Price Action

Quanex Building Products Corp (NYSE: NX) stock closed at $34.28 on 7/29/24 after a modest gain of 0.6%. Moreover, trading volume in this advance was unusually high at 165% of normal. The stock has performed in line with the market over the last nine months and has risen 9.8% during the last week.

Current PriceTarget Research Rating

With future capital returns forecasted to exceed the cost of capital, NX is expected to continue to be a Value Builder.

Quanex Building Products has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Quanex Building Products has a neutral Appreciation Score of 54 and a slightly positive Power Rating of 63, leading to the High Neutral Value Trend Rating.