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

BlueLinx (NYSE:BXC) had its price target dropped by research analysts at Benchmark from $83.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Benchmark’s price objective would suggest a potential upside of 14.66% from the company’s current price.

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

BlueLinx Trading Down 3.9%

BlueLinx stock traded down $2.66 during trading hours on Friday, hitting $65.41. The stock had a trading volume of 28,788 shares, compared to its average volume of 92,024. The business’s 50 day simple moving average is $70.32 and its 200-day simple moving average is $70.44. BlueLinx has a one year low of $52.71 and a one year high of $88.30. The stock has a market cap of $514.78 million, a price-to-earnings ratio of -6,541,000.00 and a beta of 1.63. The company has a quick ratio of 3.15, a current ratio of 4.66 and a debt-to-equity ratio of 0.96.

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

Institutional Trading of BlueLinx

Hedge funds have recently modified their holdings of the stock. Gendell Jeffrey L boosted its stake in BlueLinx by 9.0% during the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock valued at $44,168,000 after purchasing an additional 59,657 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BlueLinx by 16.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock valued at $18,723,000 after buying an additional 42,904 shares during the last quarter. Medina Value Partners LLC bought a new stake in BlueLinx during the third quarter worth $21,069,000. River Road Asset Management LLC raised its position in BlueLinx by 9.9% in the 4th quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock valued at $14,774,000 after buying an additional 21,640 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in BlueLinx by 4.0% during the 3rd quarter. Victory Capital Management Inc. now owns 204,635 shares of the construction company’s stock valued at $14,955,000 after acquiring an additional 7,871 shares in the last quarter. Institutional investors 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.