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

BlueLinx (NYSE:BXC) had its price target reduced by Loop Capital from $135.00 to $120.00 in a report published on Friday morning,Benzinga reports. Loop Capital currently has a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on the company. Benchmark decreased their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday. Finally, DA Davidson decreased their price target on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Price Performance

NYSE BXC opened at $82.40 on Friday. The stock has a market cap of $683.07 million, a price-to-earnings ratio of 13.42 and a beta of 2.04. BlueLinx has a 52-week low of $82.23 and a 52-week 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 business has a 50 day simple moving average of $104.09 and a 200 day simple moving average of $107.54.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BXC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 in the last quarter. Public Employees Retirement System of Ohio grew its position in BlueLinx by 33.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock valued at $51,000 after buying an additional 127 shares during the period. FMR LLC grew its stake in shares of 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 acquiring an additional 147 shares during the period. SkyView Investment Advisors LLC raised 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 valued at $959,000 after acquiring an additional 190 shares during the period. Finally, Hunter Perkins Capital Management LLC boosted its position in shares of BlueLinx by 4.0% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock valued at $534,000 after acquiring an additional 200 shares during the period. Institutional investors 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.