Zacks Investment Research upgraded shares of NCI Building Systems, Inc. (NYSE:NCS) from a hold rating to a strong-buy rating in a research note released on Friday morning. The brokerage currently has $19.00 target price on the construction company’s stock.
According to Zacks, “NCI Building’s second-quarter fiscal 2017 earnings per share increased four-fold year over year and also beat the Zacks Consensus Estimate. The company expects performance in second-half 2017 to be better than the first half. For fiscal 2017, the company raised revenue guidance range to $1.80–$1.86 billion from the previous range of $1.75–$1.85 billion. Adjusted EBITDA is now forecast in the range of $180–$200 million, up from the prior range of $175–$205 million. NCI Building should gain from its ongoing cost savings initiatives and opportunities to expand IMP product lines. Robust backlog growth will also drive results. The company's shares have also outperformed the Zacks categorized industry's gain year to date. “
Other research analysts also recently issued reports about the company. TheStreet raised NCI Building Systems from a c rating to a b- rating in a report on Tuesday, June 6th. Royal Bank Of Canada raised NCI Building Systems from a sector perform rating to an outperform rating and boosted their price target for the company from $18.00 to $20.00 in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. NCI Building Systems has an average rating of Buy and an average target price of $18.58.
Shares of NCI Building Systems (NYSE NCS) opened at 17.45 on Friday. NCI Building Systems has a 52-week low of $13.80 and a 52-week high of $18.10. The stock’s 50 day moving average is $17.13 and its 200 day moving average is $16.46. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 20.36 and a beta of 1.54.
NCI Building Systems (NYSE:NCS) last announced its quarterly earnings results on Tuesday, June 6th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. NCI Building Systems had a return on equity of 20.84% and a net margin of 3.50%. The company had revenue of $420.50 million during the quarter, compared to the consensus estimate of $409.24 million. During the same period in the previous year, the company posted $0.04 earnings per share. NCI Building Systems’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict that NCI Building Systems will post $1.00 EPS for the current fiscal year.
In other NCI Building Systems news, CEO Norman C. Chambers sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $17.50, for a total value of $700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark E. Johnson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 228,399 shares of the company’s stock, valued at $3,996,982.50. The disclosure for this sale can be found here. Insiders own 1.78% of the company’s stock.
Several hedge funds have recently bought and sold shares of NCS. Credit Suisse AG boosted its stake in NCI Building Systems by 42.8% in the first quarter. Credit Suisse AG now owns 70,286 shares of the construction company’s stock worth $1,206,000 after buying an additional 21,079 shares during the period. Paloma Partners Management Co acquired a new stake in NCI Building Systems during the first quarter worth approximately $528,000. Highbridge Capital Management LLC boosted its stake in NCI Building Systems by 36.6% in the first quarter. Highbridge Capital Management LLC now owns 70,252 shares of the construction company’s stock worth $1,205,000 after buying an additional 18,812 shares during the period. FOURPOINTS Investment Managers S.A.S. acquired a new stake in NCI Building Systems during the first quarter worth approximately $1,003,000. Finally, KCG Holdings Inc. acquired a new stake in NCI Building Systems during the first quarter worth approximately $320,000. Institutional investors and hedge funds own 93.08% of the company’s stock.
NCI Building Systems Company Profile
NCI Building Systems, Inc is a manufacturer and marketer of metal products in North America. The Company’s operating segments include Engineered building systems, Metal components and Metal coil coating. The Engineered building systems segment is engaged in the manufacturing of main frames and long bay systems, and engineering and drafting.
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