BlueLinx (NYSE:BXC) Price Target Cut to $25.00

BlueLinx (NYSE:BXC) had its target price decreased by analysts at B. Riley from $28.00 to $25.00 in a report issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the construction company’s stock. B. Riley’s price target would suggest a potential upside of 47.32% from the company’s previous close.

BXC has been the topic of a number of other reports. ValuEngine upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet upgraded shares of BlueLinx from a “d+” rating to a “c-” rating in a report on Wednesday, October 16th.

BlueLinx stock traded up $1.01 during mid-day trading on Thursday, reaching $16.97. 408,341 shares of the company’s stock were exchanged, compared to its average volume of 138,143. The company has a market cap of $290.31 million, a P/E ratio of -4.69 and a beta of 1.77. BlueLinx has a twelve month low of $13.48 and a twelve month high of $35.40. The company has a fifty day moving average of $31.06 and a 200-day moving average of $25.28.

BlueLinx (NYSE:BXC) last released its earnings results on Wednesday, August 7th. The construction company reported ($0.15) earnings per share (EPS) for the quarter. The business had revenue of $706.45 million for the quarter. Equities research analysts forecast that BlueLinx will post 0.59 earnings per share for the current year.

In other news, CEO Mitchell B. Lewis acquired 1,200 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $26.99 per share, with a total value of $32,388.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mitchell B. Lewis acquired 11,900 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was purchased at an average cost of $15.81 per share, for a total transaction of $188,139.00. Following the completion of the transaction, the chief executive officer now owns 160,912 shares in the company, valued at approximately $2,544,018.72. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 18,600 shares of company stock worth $320,682. Insiders own 5.07% of the company’s stock.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of BlueLinx by 2.1% in the 2nd quarter. BlackRock Inc. now owns 589,025 shares of the construction company’s stock valued at $11,668,000 after purchasing an additional 12,315 shares during the last quarter. Weber Alan W increased its position in shares of BlueLinx by 2.2% in the 2nd quarter. Weber Alan W now owns 465,353 shares of the construction company’s stock valued at $9,219,000 after purchasing an additional 10,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of BlueLinx by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 464,411 shares of the construction company’s stock valued at $9,200,000 after purchasing an additional 29,190 shares during the last quarter. JBF Capital Inc. increased its position in shares of BlueLinx by 21.5% in the 2nd quarter. JBF Capital Inc. now owns 312,955 shares of the construction company’s stock valued at $6,199,000 after purchasing an additional 55,400 shares during the last quarter. Finally, Private Advisors LLC increased its position in shares of BlueLinx by 213.9% in the 2nd quarter. Private Advisors LLC now owns 212,185 shares of the construction company’s stock valued at $4,203,000 after purchasing an additional 144,599 shares during the last quarter. 90.08% of the stock is currently owned by institutional investors.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.

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