BlueLinx (NYSE:BXC) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of BlueLinx with a “market perform” rating, while Citigroup also began coverage with the same rating.
• Analyst sentiment remains mixed: BlueLinx has a consensus “Hold” rating and an average price target of $83.50, with ratings ranging from Buy to Sell.
• BlueLinx reported quarterly EPS of $1.15, beating estimates of $0.30, while revenue of $814.08 million exceeded the $793.72 million consensus forecast. Institutional investors own approximately 90.83% of the company.

Equities research analysts at Citizens Jmp began coverage on shares of BlueLinx (NYSE:BXC - Get Free Report) in a report released on Thursday, Briefing.com reports. The brokerage set a "market perform" rating on the construction company's stock.

BXC has been the topic of a number of other research reports. Wall Street Zen upgraded BlueLinx from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson raised their price objective on BlueLinx from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Benchmark lifted their target price on BlueLinx from $75.00 to $83.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of BlueLinx in a report on Monday, August 17th. Finally, Citigroup began coverage on shares of BlueLinx in a research report on Thursday. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BlueLinx currently has a consensus rating of "Hold" and a consensus target price of $83.50.

BlueLinx Price Performance

• Blackstone NYSE: BX Stock a Buy After an Impressive Q3

NYSE BXC opened at $80.04 on Thursday. The stock has a market capitalization of $629.11 million, a P/E ratio of -320.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. The business's fifty day moving average is $74.87 and its two-hundred day moving average is $61.24. BlueLinx has a 1 year low of $44.78 and a 1 year high of $93.80.

BlueLinx (NYSE:BXC - Get Free Report) last announced its earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.30 by $0.85. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.The business had revenue of $814.08 million during the quarter, compared to the consensus estimate of $793.72 million.

Institutional Investors Weigh In On BlueLinx

Institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in shares of BlueLinx in the 2nd quarter worth about $364,000. Squarepoint Ops LLC lifted its holdings in BlueLinx by 8.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company's stock valued at $595,000 after purchasing an additional 734 shares during the last quarter. Fifth Third Bancorp acquired a new position in BlueLinx in the first quarter valued at about $689,000. Public Employees Retirement System of Ohio bought a new stake in BlueLinx during the second quarter worth about $788,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of BlueLinx during the second quarter worth approximately $1,571,000. Institutional investors own 90.83% of the company's stock.

BlueLinx Company Profile

BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.

Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.

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