Benchmark Cuts BlueLinx (NYSE:BXC) Price Target to $120.00

BlueLinx (NYSE:BXC) had its price target cut by Benchmark from $135.00 to $120.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also recently commented on the stock. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday. DA Davidson dropped their price target on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Stock Down 8.7 %

NYSE BXC opened at $82.40 on Friday. BlueLinx has a twelve month low of $82.23 and a twelve month high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The stock has a market cap of $683.07 million, a PE ratio of 13.42 and a beta of 2.04. The firm has a 50-day simple moving average of $104.09 and a 200 day simple moving average of $107.54.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The firm had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.

Institutional Trading of BlueLinx

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after acquiring an additional 140 shares during the period. PNC Financial Services Group Inc. bought a new stake in BlueLinx in the fourth quarter valued at approximately $61,000. Quest Partners LLC lifted its stake in shares of BlueLinx by 43.2% in the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after purchasing an additional 342 shares during the period. Meeder Asset Management Inc. grew its holdings in BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after purchasing an additional 379 shares during the period. Finally, AlphaQuest LLC raised its position in shares of BlueLinx by 28.4% during the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after purchasing an additional 322 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.