BlueLinx Holdings Inc. (NYSE:BXC – Get Free Report)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $76.88, but opened at $80.45. BlueLinx shares last traded at $76.7760, with a volume of 23,866 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have recently commented on BXC shares. DA Davidson lifted their target price on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. Benchmark lifted their price target 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, Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.50.
View Our Latest Report on BlueLinx
BlueLinx Stock Down 0.2%
BlueLinx (NYSE:BXC – Get Free Report) last issued its 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. The firm had revenue of $814.08 million for the quarter, compared to analysts’ expectations of $793.72 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in BlueLinx in the second quarter valued at approximately $364,000. Squarepoint Ops LLC boosted its position in shares of 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 position in shares of BlueLinx in the 1st quarter valued at $689,000. Public Employees Retirement System of Ohio acquired a new position in shares of BlueLinx in the 2nd quarter valued at $788,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BlueLinx in the 2nd quarter valued at $1,571,000. Institutional investors own 90.83% of the company’s stock.
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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