BlueLinx (NYSE:BXC) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded BlueLinx from “buy” to “hold.” Across analysts, the consensus is “hold,” with an average price target of $83.50.
• BlueLinx reported quarterly EPS of $0.68, beating the $0.60 consensus, while revenue of $812.61 million came in slightly below estimates of $814.17 million.
• Shares opened at $60.80, up 0.3% on the day. The stock’s 52-week range is $44.78 to $93.80.

BlueLinx (NYSE:BXC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Monday, Wall Street Zen reports.

BXC has been the topic of a number of other research reports. Benchmark raised their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. DA Davidson upped their target price on shares of BlueLinx from $65.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Weiss Ratings restated a "sell (d)" rating on shares of BlueLinx in a report on Monday, August 17th. Zacks Research assumed coverage on shares of BlueLinx in a research report on Monday, November 2nd. They issued a "hold" rating on the stock. Finally, Citigroup assumed coverage on shares of BlueLinx in a research note on Thursday, September 24th. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BlueLinx currently has a consensus rating of "Hold" and an average target price of $83.50.

BlueLinx Stock Up 0.3%

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

Shares of NYSE BXC opened at $60.80 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.51 and a current ratio of 3.84. BlueLinx has a 52 week low of $44.78 and a 52 week high of $93.80. The stock has a market capitalization of $478.20 million, a P/E ratio of -116.92 and a beta of 1.47. The stock's fifty day moving average is $75.27 and its 200 day moving average is $64.88.

BlueLinx (NYSE:BXC - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The construction company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.08. BlueLinx had a positive return on equity of 0.42% and a negative net margin of 0.14%. The firm had revenue of $812.61 million during the quarter, compared to the consensus estimate of $814.17 million. Sell-side analysts forecast that BlueLinx will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlueLinx

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in shares of BlueLinx by 8.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company's stock worth $595,000 after acquiring an additional 734 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in BlueLinx by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company's stock valued at $27,771,000 after purchasing an additional 2,008 shares during the period. Russell Investments Group Ltd. grew its holdings in BlueLinx by 28.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,228 shares of the construction company's stock valued at $1,226,000 after buying an additional 3,789 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in BlueLinx in the 2nd quarter valued at approximately $364,000. Finally, Punch & Associates Investment Management Inc. grew its holdings in BlueLinx by 2.1% in 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 buying an additional 6,538 shares during the last quarter. Institutional investors own 90.83% of the company's stock.

BlueLinx Company Profile

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.

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