BlueLinx (NYSE:BXC) Downgraded by Wall Street Zen to Hold

by · The Markets Daily

Wall Street Zen lowered shares of BlueLinx (NYSE:BXC – Free Report) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

BXC has been the topic of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. DA Davidson raised their target price on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Citigroup assumed coverage on BlueLinx in a report on Thursday. They set a “market perform” rating on the stock. Benchmark increased their price target on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citizens Jmp assumed coverage on BlueLinx in a research report on Thursday. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BlueLinx presently has a consensus rating of “Hold” and an average target price of $83.50.

Check Out Our Latest Stock Analysis on BXC

BlueLinx Trading Up 3.5%

Shares of BlueLinx stock opened at $76.42 on Friday. 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 has a twelve month low of $44.78 and a twelve month high of $93.80. The firm has a market capitalization of $600.64 million, a PE ratio of -305.66 and a beta of 1.45. The firm’s 50-day moving average price is $75.44 and its 200 day moving average price is $61.44.

BlueLinx (NYSE:BXC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The company had revenue of $814.08 million for the quarter, compared to analysts’ expectations of $793.72 million.

Institutional Trading of BlueLinx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new position in shares of BlueLinx during the second quarter worth $364,000. Squarepoint Ops LLC raised 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 during the period. Public Employees Retirement System of Ohio acquired a new position in BlueLinx during the 2nd quarter worth about $788,000. Bank of New York Mellon Corp acquired a new position in BlueLinx during the 2nd quarter worth about $1,571,000. Finally, Empowered Funds LLC lifted its stake in BlueLinx by 42.7% during the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after acquiring an additional 32,943 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

About BlueLinx

(Get Free Report)

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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