BlueLinx Holdings Inc. (NYSE:BXC) Receives $124.67 Average Price Target from Brokerages

Shares of BlueLinx Holdings Inc. (NYSE:BXC) have been assigned an average rating of “Buy” from the four ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $123.50.

Several equities research analysts have recently issued reports on the company. StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital reduced their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st. DA Davidson reduced their price target on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Benchmark reduced their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st.

BlueLinx Price Performance

NYSE:BXC opened at $84.00 on Friday. The firm has a market capitalization of $696.78 million, a price-to-earnings ratio of 13.68 and a beta of 2.04. BlueLinx has a 1 year low of $80.30 and a 1 year high of $134.79. The business has a 50 day simple moving average of $102.73 and a 200-day simple moving average of $107.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

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

Institutional Investors Weigh In On BlueLinx

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in BlueLinx by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company’s stock worth $474,000 after purchasing an additional 104 shares during the period. Public Employees Retirement System of Ohio increased its holdings in BlueLinx by 33.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock worth $51,000 after purchasing an additional 127 shares during the period. FMR LLC increased its holdings in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after purchasing an additional 147 shares during the period. SkyView Investment Advisors LLC increased its holdings in BlueLinx by 2.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock worth $959,000 after purchasing an additional 190 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its holdings in BlueLinx by 4.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock worth $534,000 after purchasing an additional 200 shares during the period. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Company Profile

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.