Zacks Research Begins Coverage on BlueLinx (NYSE:BXC)

Zacks Research assumed coverage on shares of BlueLinx (NYSE:BXC) in a report issued on Monday, Zacks reports. The brokerage set a “hold” rating on the construction company’s stock.

BXC has been the topic of a number of other research reports. DA Davidson increased their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a research report on Sunday. Benchmark boosted their target price on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup assumed coverage on shares of BlueLinx in a research report on Thursday, September 24th. They issued a “market perform” rating for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.50.

BlueLinx Trading Down 7.8%

NYSE:BXC opened at $72.64 on Monday. The firm has a market capitalization of $570.91 million, a P/E ratio of -290.53 and a beta of 1.47. The business has a 50 day simple moving average of $76.14 and a 200 day simple moving average of $65.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59. BlueLinx has a 12-month low of $44.78 and a 12-month high of $93.80.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, November 3rd. The construction company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $812.61 million for the quarter, compared to analyst estimates of $814.17 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%. Equities research analysts predict that BlueLinx will post 0.97 EPS for the current year.

Hedge Funds Weigh In On BlueLinx

A number of institutional investors and hedge funds have recently bought and sold shares of BXC. SummerHaven Investment Management LLC acquired a new position in BlueLinx during the 3rd quarter valued at about $595,000. WINTON GROUP Ltd bought a new stake in shares of BlueLinx during the 2nd quarter worth about $364,000. Squarepoint Ops LLC lifted its stake 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 worth $595,000 after acquiring an additional 734 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of BlueLinx in the 2nd quarter worth approximately $788,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of BlueLinx during the second quarter valued at approximately $1,571,000. Institutional investors own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.