Benchmark Trims BlueLinx (NYSE:BXC) Target Price to $135.00

BlueLinx (NYSE:BXC) had its price objective reduced by Benchmark from $144.00 to $135.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, TheStreet downgraded shares of BlueLinx from a b rating to a c rating in a research note on Thursday, February 22nd.

BlueLinx Stock Up 0.1 %

Shares of BXC traded up $0.09 during midday trading on Thursday, hitting $102.54. 102,327 shares of the company’s stock traded hands, compared to its average volume of 80,860. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $888.00 million, a price-to-earnings ratio of 19.24 and a beta of 1.96. BlueLinx has a 1 year low of $67.76 and a 1 year high of $132.67. The firm’s fifty day moving average is $120.02 and its 200-day moving average is $106.46.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $2.64 EPS for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The company had revenue of $712.53 million during the quarter.

Insider Activity at BlueLinx

In other news, Director Mitchell B. Lewis sold 314 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the transaction, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mitchell B. Lewis sold 5,352 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the sale, the director now directly owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total transaction of $37,394.26. Following the sale, the director now owns 38,828 shares in the company, valued at approximately $4,624,026.52. The disclosure for this sale can be found here. Insiders sold 8,570 shares of company stock worth $1,000,196 over the last three months. Company insiders own 3.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BXC. SummerHaven Investment Management LLC increased its stake in shares of BlueLinx by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,617 shares of the construction company’s stock valued at $863,000 after purchasing an additional 102 shares in the last quarter. Raymond James & Associates raised its stake in shares of BlueLinx by 4.6% during the 4th quarter. Raymond James & Associates now owns 2,616 shares of the construction company’s stock worth $296,000 after buying an additional 116 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of BlueLinx by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,751 shares of the construction company’s stock valued at $425,000 after buying an additional 156 shares in the last quarter. Oliver Luxxe Assets LLC grew its stake in BlueLinx by 3.1% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 6,230 shares of the construction company’s stock valued at $511,000 after acquiring an additional 186 shares during the period. Finally, SkyView Investment Advisors LLC increased its holdings in BlueLinx by 2.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,057 shares of the construction company’s stock worth $661,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.