BlueLinx (NYSE:BXC) Rating Lowered to Hold at Wall Street Zen

BlueLinx (NYSE:BXC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

BXC has been the topic of a number of other reports. Citizens Jmp started coverage on BlueLinx in a report on Thursday. They set a “market perform” rating on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. DA Davidson increased their target price on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Benchmark increased their target price on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup initiated coverage on shares of BlueLinx in a research note on Thursday. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.50.

BlueLinx Stock Performance

Shares of BXC stock opened at $76.42 on Friday. BlueLinx has a 12-month low of $44.78 and a 12-month high of $93.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59. The firm has a market capitalization of $600.64 million, a price-to-earnings ratio of -305.66 and a beta of 1.45. The business has a 50 day simple moving average of $75.44 and a 200 day simple moving average of $61.46.

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

Institutional Trading of BlueLinx

A number of hedge funds and other institutional investors have recently modified their holdings of BXC. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. Punch & Associates Investment Management Inc. raised its position in BlueLinx by 2.1% in 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. River Road Asset Management LLC raised its position in BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock worth $14,774,000 after acquiring an additional 21,640 shares in the last quarter. Empowered Funds LLC lifted its holdings in BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock valued at $5,961,000 after acquiring an additional 32,943 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in BlueLinx by 22.8% in the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock valued at $4,989,000 after acquiring an additional 17,075 shares during the last quarter. Institutional investors own 90.83% of the company’s stock.

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.