BlueLinx (NYSE:BXC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BlueLinx (NYSE:BXC) from a hold rating to a buy rating in a report issued on Sunday morning,Wall Street Zen reports.

Several other research analysts have also issued reports on BXC. DA Davidson increased their target price on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Benchmark lifted their price target 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. Citizens Jmp initiated coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating on the stock. Citigroup assumed coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.50.

BlueLinx Stock Performance

Shares of BXC stock opened at $72.64 on Friday. The company has a market cap of $570.91 million, a price-to-earnings ratio of -290.53 and a beta of 1.47. BlueLinx has a 52 week low of $44.78 and a 52 week high of $93.80. The company has a quick ratio of 2.59, a current ratio of 4.01 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $76.14 and a 200-day moving average of $65.02.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, November 3rd. The construction company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The company had revenue of $812.61 million during the quarter, compared to analyst estimates of $814.17 million. On average, equities analysts forecast that BlueLinx will post 0.97 earnings per share for the current year.

Institutional Trading of BlueLinx

Several hedge funds have recently bought and sold shares of BXC. Dimensional Fund Advisors LP grew its holdings in shares of BlueLinx by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after buying an additional 2,008 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of BlueLinx by 2.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock worth $17,439,000 after acquiring an additional 6,538 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after acquiring an additional 32,943 shares during the last quarter. Heartland Advisors Inc. raised its holdings in shares of BlueLinx by 22.8% in the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock worth $4,989,000 after acquiring an additional 17,075 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock worth $3,229,000 after acquiring an additional 28,571 shares during the last quarter. Institutional investors and hedge funds 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.