UBS maintained a Buy rating on NCI Building Systems (NYSE: NCS), and cut the price target to $17.00 (from $20.00), following the company's 3Q15 earnings report. Sales of $421m missed the Street's $442m estimate. Adjusted EPS was reported at $0.15, compared to the Street's $0.14 estimate.

UBS commented, "We were pleased with solid 6.0% adj op margins, solid YoY improvement in Components profitability, and book to bill slightly above 1x. That said, adj. EPS came in below our estimate on weaker than expected sales in all three segments. We think investors' expectations were low, and we think the EPS beat versus the Street, and the initial evidence that 2H ad. EBITDA will ramp up versus 1H, will be viewed favorably. On the negative side, growth ex-CENTRIA in the quarter was minimal (steel price headwind), and mgmt. cited declines in some leading indicators of construction activity."

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Shares of NCI Building Systems closed at $9.95 yesterday.