Benchmark Cuts BlueLinx (NYSE:BXC) Price Target to $110.00

BlueLinx (NYSE:BXC - Get Free Report) had its price target cut by equities researchers at Benchmark from $120.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Benchmark's price objective would indicate a potential upside of 69.48% from the stock's current price.

BXC has been the subject of several other reports. Loop Capital dropped their price objective on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, DA Davidson reduced their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.00.

BlueLinx Stock Performance

BXC traded up $0.29 on Friday, hitting $64.91. The company had a trading volume of 29,742 shares, compared to its average volume of 80,812. The company's fifty day moving average price is $74.55 and its 200 day moving average price is $97.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. BlueLinx has a 1-year low of $63.55 and a 1-year high of $134.79. The stock has a market cap of $520.68 million, a price-to-earnings ratio of 10.55 and a beta of 1.99.

BlueLinx (NYSE:BXC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm 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 and other institutional investors have recently added to or reduced their stakes in BXC. Barclays PLC lifted its holdings in shares of BlueLinx by 32.0% during the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company's stock valued at $4,767,000 after purchasing an additional 10,966 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in BlueLinx by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company's stock worth $9,714,000 after purchasing an additional 4,363 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of BlueLinx by 24.7% in the fourth quarter. CWA Asset Management Group LLC now owns 6,518 shares of the construction company's stock valued at $666,000 after purchasing an additional 1,291 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in BlueLinx by 4.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 15,515 shares of the construction company's stock worth $1,585,000 after acquiring an additional 716 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of BlueLinx by 1.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 138,552 shares of the construction company's stock valued at $14,154,000 after acquiring an additional 1,359 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Company Profile

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.