BlueLinx (NYSE:BXC) Raised to “Hold” at Wall Street Zen

BlueLinx (NYSE:BXC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also recently commented on BXC. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a research note on Monday, December 29th. Benchmark cut their target price on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, February 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BlueLinx currently has an average rating of “Hold” and an average price target of $71.50.

BlueLinx Price Performance

BlueLinx stock opened at $58.28 on Friday. The stock has a market capitalization of $458.67 million, a P/E ratio of -5,828,100.00 and a beta of 1.70. The company’s fifty day moving average price is $57.89 and its 200 day moving average price is $63.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 3.12 and a current ratio of 4.66. BlueLinx has a 1 year low of $44.78 and a 1 year high of $88.30.

BlueLinx (NYSE:BXC) last released its earnings results on Tuesday, February 24th. The construction company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $703.84 million. BlueLinx had a negative return on equity of 0.23% and a net margin of 0.01%.

Institutional Investors Weigh In On BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gendell Jeffrey L boosted its stake in BlueLinx by 9.0% during the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock worth $44,168,000 after purchasing an additional 59,657 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BlueLinx by 16.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock worth $18,723,000 after purchasing an additional 42,904 shares during the last quarter. Medina Value Partners LLC acquired a new stake in BlueLinx during the 3rd quarter worth $21,069,000. River Road Asset Management LLC boosted its stake in BlueLinx by 9.9% during the 4th quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock worth $14,774,000 after purchasing an additional 21,640 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in BlueLinx by 4.0% during the 3rd quarter. Victory Capital Management Inc. now owns 204,635 shares of the construction company’s stock worth $14,955,000 after purchasing an additional 7,871 shares during the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.