Benchmark Cuts BlueLinx (NYSE:BXC) Price Target to $75.00

BlueLinx (NYSE:BXC) had its price objective lowered by Benchmark from $83.00 to $75.00 in a research report released on Friday,Benzinga reports. Benchmark currently has a buy rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. DA Davidson set a $68.00 price target on shares of BlueLinx in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.00.

BlueLinx Trading Down 3.6%

NYSE BXC opened at $65.64 on Friday. BlueLinx has a 52 week low of $52.71 and a 52 week high of $88.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.12 and a current ratio of 4.66. The stock’s 50 day moving average price is $70.38 and its two-hundred day moving average price is $70.32. The stock has a market capitalization of $516.59 million, a price-to-earnings ratio of -6,564,100.00 and a beta of 1.62.

BlueLinx (NYSE:BXC) last posted its quarterly earnings data on Tuesday, February 24th. The construction company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The business had revenue of $715.80 million during the quarter, compared to analyst estimates of $703.84 million.

Institutional Investors Weigh In On BlueLinx

A number of institutional investors and hedge funds have recently modified their holdings of BXC. Medina Value Partners LLC bought a new position in BlueLinx during the third quarter worth about $21,069,000. Catawba River Capital acquired a new stake in shares of BlueLinx in the third quarter valued at approximately $7,431,000. Towle & Co. boosted its stake in shares of BlueLinx by 113.8% during the 4th quarter. Towle & Co. now owns 167,196 shares of the construction company’s stock worth $10,271,000 after acquiring an additional 89,010 shares during the period. Gendell Jeffrey L increased its holdings in shares of BlueLinx by 16.8% during the 2nd quarter. Gendell Jeffrey L now owns 563,730 shares of the construction company’s stock worth $41,930,000 after acquiring an additional 80,903 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new stake in BlueLinx in the 3rd quarter valued at $5,481,000. 90.83% of the stock is owned by institutional investors.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.