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In a note released Monday morning, Imperial Capital downgraded shares of Quanex Building Products Corporation (NYSE: NX) from Outperform to In-line and lowered the price target from $21 to $20.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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The firm wrote, "Although NX should benefit from increased window shipment demand and accretive corporate action over the next few years, we think it could take a few quarters for earnings momentum to build."
As reasons for the slow earnings build, the firm pointed to a handful of economic indicators related to the housing industry, such as the year-over-year decline in housing starts. However, the firm did note activity should increase as the U.S. economy continues to strengthen.