BlueLinx (NYSE:BXC – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.
Other equities analysts have also recently issued research reports about the stock. Benchmark boosted their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. DA Davidson increased their target price on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. Citigroup began coverage on BlueLinx in a report on Thursday, September 24th. They set a “market perform” rating on the stock. Finally, Citizens Jmp initiated coverage on BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating for the company. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BlueLinx presently has a consensus rating of “Hold” and a consensus target price of $83.50.
View Our Latest Stock Report on BlueLinx
BlueLinx Trading Down 0.5%
Shares of BlueLinx stock opened at $78.60 on Friday. The stock has a fifty day simple moving average of $76.34 and a 200 day simple moving average of $65.04. BlueLinx has a 12-month low of $44.78 and a 12-month high of $93.80. The company has a market capitalization of $617.80 million, a P/E ratio of -314.39 and a beta of 1.43. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95.
BlueLinx (NYSE:BXC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate 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 business had revenue of $814.08 million for the quarter, compared to the consensus estimate of $793.72 million.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC purchased a new position in BlueLinx in the third quarter worth approximately $595,000. WINTON GROUP Ltd acquired a new stake in BlueLinx in the second quarter valued at $364,000. Squarepoint Ops LLC boosted its holdings in shares of BlueLinx by 8.3% in the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock valued at $595,000 after buying an additional 734 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of BlueLinx in the 2nd quarter valued at about $788,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of BlueLinx during the second quarter worth approximately $1,571,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.
About BlueLinx
BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.
Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.
BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.
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