BlueLinx Holdings Inc. (NYSE:BXC) Stock Now Rated “Hold” by Sell-Side Analysts

BlueLinx Holdings Inc. (NYSE:BXC) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $83.50.

BXC has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Citizens Jmp assumed coverage on BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating for the company. Citigroup initiated coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating for the company. Benchmark lifted their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of BlueLinx from a “buy” rating to a “hold” rating in a report on Saturday, September 26th.

Institutional Trading of BlueLinx

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its stake in BlueLinx by 8.3% in the second quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock valued at $595,000 after acquiring an additional 734 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of BlueLinx by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after purchasing an additional 2,008 shares in the last quarter. Meros Investment Management LP lifted its holdings in shares of BlueLinx by 4.3% during the 4th quarter. Meros Investment Management LP now owns 82,266 shares of the construction company’s stock valued at $5,054,000 after purchasing an additional 3,385 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of BlueLinx in the 2nd quarter valued at approximately $364,000. Finally, Punch & Associates Investment Management Inc. grew its position in shares of BlueLinx by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock valued at $17,439,000 after purchasing an additional 6,538 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Price Performance

Shares of BXC stock opened at $71.39 on Thursday. The firm’s 50 day moving average price is $76.47 and its two-hundred day moving average price is $61.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. BlueLinx has a 52-week low of $44.78 and a 52-week high of $93.80. The stock has a market cap of $561.16 million, a PE ratio of -285.57 and a beta of 1.45.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The company had revenue of $814.08 million during the quarter, compared to analysts’ expectations of $793.72 million.

About BlueLinx

BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.

Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.