TheStreet upgraded shares of BlueLinx (NYSE:BXC) from a d+ rating to a c- rating in a report issued on Wednesday morning, TheStreetRatingsTable reports.
A number of other equities analysts also recently weighed in on the company. B. Riley initiated coverage on BlueLinx in a research note on Thursday, August 8th. They issued a buy rating and a $28.00 target price on the stock. ValuEngine downgraded BlueLinx from a hold rating to a sell rating in a research note on Wednesday, October 2nd.
BXC stock opened at $32.51 on Wednesday. The company has a market capitalization of $297.99 million, a P/E ratio of -8.98 and a beta of 1.76. BlueLinx has a 52-week low of $17.88 and a 52-week high of $34.39. The business has a 50-day simple moving average of $30.74 and a two-hundred day simple moving average of $24.66.
BlueLinx (NYSE:BXC) last released its quarterly earnings results on Wednesday, August 7th. The construction company reported ($0.15) earnings per share (EPS) for the quarter. The business had revenue of $706.45 million during the quarter. Equities research analysts expect that BlueLinx will post 0.59 earnings per share for the current year.
In other BlueLinx news, CEO Mitchell B. Lewis bought 1,200 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $26.99 per share, with a total value of $32,388.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.07% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Atria Investments LLC bought a new stake in shares of BlueLinx during the 2nd quarter valued at $4,029,000. Engine Capital Management LP raised its position in shares of BlueLinx by 155.1% during the 2nd quarter. Engine Capital Management LP now owns 14,795 shares of the construction company’s stock valued at $291,000 after purchasing an additional 8,995 shares during the period. Jane Street Group LLC bought a new stake in shares of BlueLinx during the 2nd quarter valued at $311,000. D. E. Shaw & Co. Inc. raised its position in shares of BlueLinx by 27.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 19,232 shares of the construction company’s stock valued at $381,000 after purchasing an additional 4,186 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of BlueLinx by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 464,411 shares of the construction company’s stock valued at $9,200,000 after purchasing an additional 29,190 shares during the period. 91.44% of the stock is currently owned by institutional investors and hedge funds.
BlueLinx Company Profile
BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.
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