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

BlueLinx (NYSE:BXC - Get Free Report) had its price target decreased by stock analysts at Benchmark from $120.00 to $110.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Benchmark's price target would indicate a potential upside of 63.40% from the stock's previous close.

Several other equities research analysts have also commented on the company. StockNews.com lowered BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. DA Davidson reduced their price objective on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a report on Thursday. Finally, Loop Capital decreased their price target on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, BlueLinx currently has an average rating of "Moderate Buy" and a consensus target price of $110.00.

BlueLinx Stock Performance

Shares of BXC traded up $3.56 during mid-day trading on Friday, hitting $67.32. 13,905 shares of the company's stock were exchanged, compared to its average volume of 80,977. The firm has a market cap of $550.74 million, a price-to-earnings ratio of 10.96 and a beta of 1.82. BlueLinx has a 52 week low of $63.55 and a 52 week high of $134.79. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The stock's 50-day simple moving average is $75.54 and its 200-day simple moving average is $98.43.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million.

Hedge Funds Weigh In On BlueLinx

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in BlueLinx by 32.0% in the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company's stock worth $4,767,000 after acquiring an additional 10,966 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of BlueLinx by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company's stock worth $9,714,000 after buying an additional 4,363 shares during the last quarter. CWA Asset Management Group LLC increased its stake in 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 acquiring an additional 1,291 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in shares of BlueLinx by 4.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 15,515 shares of the construction company's stock valued at $1,585,000 after purchasing an additional 716 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in BlueLinx by 1.0% during 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. Institutional investors own 90.83% of the company's stock.

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.

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