BlueLinx (NYSE:BXC) Coverage Initiated by Analysts at Zacks Research

Zacks Research initiated coverage on shares of BlueLinx (NYSE:BXC) in a research note issued to investors on Monday,Zacks reports. The brokerage issued a hold rating on the construction company’s stock.

A number of other research firms have also weighed in on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. Benchmark increased their target price on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup started coverage on BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating on the stock. Citizens Jmp began coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock. Finally, DA Davidson lifted their price target on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BlueLinx currently has a consensus rating of “Hold” and a consensus target price of $83.50.

BlueLinx Stock Performance

BlueLinx stock opened at $72.64 on Monday. The company has a quick ratio of 2.59, a current ratio of 4.01 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $570.91 million, a PE ratio of -290.53 and a beta of 1.47. The firm has a fifty day simple moving average of $76.14 and a two-hundred day simple moving average of $65.02. BlueLinx has a twelve month low of $44.78 and a twelve month high of $93.80.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, November 3rd. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The business had revenue of $812.61 million during the quarter, compared to analyst estimates of $814.17 million. Research analysts expect that BlueLinx will post 0.97 EPS for the current year.

Institutional Investors Weigh In On BlueLinx

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of BlueLinx by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock worth $27,771,000 after purchasing an additional 2,008 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in BlueLinx by 2.1% during 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 last quarter. Empowered Funds LLC raised its position in BlueLinx by 42.7% during the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock valued at $5,961,000 after purchasing an additional 32,943 shares during the last quarter. Heartland Advisors Inc. raised its position in BlueLinx by 22.8% during the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock valued at $4,989,000 after purchasing an additional 17,075 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock worth $3,229,000 after buying an additional 28,571 shares during the period. Institutional investors own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.