BlueLinx Holdings Inc. (NYSE:BXC – Get Free Report) traded up 6.2% on Tuesday . The stock traded as high as $79.61 and last traded at $80.1650. 56,304 shares were traded during trading, a decline of 57% from the average session volume of 130,520 shares. The stock had previously closed at $75.51.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BXC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. Wall Street Zen raised shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Benchmark boosted their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, DA Davidson upped their target price on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.50.
BlueLinx Stock Up 6.6%
BlueLinx (NYSE:BXC – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.85. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.The firm had revenue of $814.08 million for the quarter, compared to analyst estimates of $793.72 million.
Institutional Investors Weigh In On BlueLinx
Several hedge funds have recently modified their holdings of BXC. WINTON GROUP Ltd acquired a new stake in shares of BlueLinx in the 2nd quarter worth $364,000. Squarepoint Ops LLC raised its holdings in BlueLinx by 8.3% during the second quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock worth $595,000 after purchasing an additional 734 shares in the last quarter. Fifth Third Bancorp acquired a new stake in BlueLinx in the first quarter valued at about $689,000. Public Employees Retirement System of Ohio purchased a new stake in BlueLinx in the 2nd quarter valued at approximately $788,000. Finally, Bank of New York Mellon Corp purchased a new stake in BlueLinx in the 2nd quarter valued at approximately $1,571,000. 90.83% of the stock is owned by institutional investors and hedge funds.
BlueLinx Company Profile
BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.
Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.
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