BlueLinx’s (BXC) “Neutral” Rating Reaffirmed at DA Davidson

BlueLinx (NYSE:BXC)‘s stock had its “neutral” rating reiterated by stock analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $65.00 price target on the construction company’s stock. DA Davidson’s price objective would suggest a potential upside of 11.84% from the stock’s previous close.

A number of other research firms have also weighed in on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. Wall Street Zen raised BlueLinx from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

BlueLinx Price Performance

Shares of NYSE BXC opened at $58.12 on Wednesday. The firm has a 50-day simple moving average of $53.91 and a 200-day simple moving average of $59.73. The company has a quick ratio of 2.51, a current ratio of 3.90 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $452.17 million, a price-to-earnings ratio of -107.38 and a beta of 1.41. BlueLinx has a 52 week low of $44.78 and a 52 week high of $87.88.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.93. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%. The firm had revenue of $731.15 million for the quarter, compared to analyst estimates of $714.84 million.

Institutional Trading of BlueLinx

A number of hedge funds and other institutional investors have recently made changes to their positions in BXC. Voss Capital LP raised its position in BlueLinx by 24.5% in the third quarter. Voss Capital LP now owns 60,000 shares of the construction company’s stock valued at $4,385,000 after purchasing an additional 11,790 shares during the period. Concentric Capital Strategies LP grew its holdings in shares of BlueLinx by 115.0% during the 4th quarter. Concentric Capital Strategies LP now owns 67,696 shares of the construction company’s stock worth $4,159,000 after purchasing an additional 36,212 shares during the period. River Road Asset Management LLC grew its holdings in shares of BlueLinx by 9.9% during the 4th quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock worth $14,774,000 after purchasing an additional 21,640 shares during the period. Comerica Bank increased its position in shares of BlueLinx by 938.2% during the 4th quarter. Comerica Bank now owns 12,718 shares of the construction company’s stock worth $781,000 after purchasing an additional 11,493 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of BlueLinx by 2.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock worth $17,439,000 after purchasing an additional 6,538 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.