BlueLinx (NYSE:BXC) Cut to “Hold” at Wall Street Zen

by · The Cerbat Gem

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

Other research analysts also recently issued reports about the company. Citigroup began coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating for the company. Benchmark boosted their price target on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. Citizens Jmp initiated coverage on BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating for the company. Finally, DA Davidson raised their target price on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Get Our Latest Stock Report on BXC

BlueLinx Trading Up 0.1%

Shares of NYSE:BXC opened at $63.45 on Monday. The company’s 50-day moving average price is $74.45 and its two-hundred day moving average price is $64.73. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.84 and a quick ratio of 2.51. BlueLinx has a one year low of $44.78 and a one year high of $93.80. The stock has a market capitalization of $499.05 million, a PE ratio of -122.02 and a beta of 1.47.

BlueLinx (NYSE:BXC – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The construction company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The company had revenue of $812.61 million during the quarter, compared to analysts’ expectations of $814.17 million. BlueLinx had a positive return on equity of 0.42% and a negative net margin of 0.14%. On average, equities analysts forecast that BlueLinx will post 0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BXC. Empowered Funds LLC raised its holdings in BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock valued at $5,961,000 after acquiring an additional 32,943 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of BlueLinx during the 2nd quarter worth $1,571,000. Sei Investments Co. raised its stake in BlueLinx by 92.1% in the first quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock valued at $3,229,000 after purchasing an additional 28,571 shares in the last quarter. Quantinno Capital Management LP lifted its position in BlueLinx by 124.7% during the first quarter. Quantinno Capital Management LP now owns 34,657 shares of the construction company’s stock worth $1,878,000 after purchasing an additional 19,236 shares during the period. Finally, SummerHaven Investment Management LLC bought a new stake in BlueLinx during the third quarter worth about $595,000. 90.83% of the stock is owned by institutional investors.

About BlueLinx

(Get Free Report)

BlueLinx Holdings Inc. is a U.S. wholesale distributor of building products, serving dealers, home improvement retailers, manufactured housing producers, and other customers in the construction and building materials industries. The company distributes structural products such as lumber, plywood, oriented strand board, and engineered wood, as well as specialty products including siding, trim, insulation, roofing materials, and composite products. It also provides logistics and other distribution services to help customers source and transport building materials.

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