BlueLinx (NYSE:BXC) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded BlueLinx (NYSE:BXC) from "sell" to "hold"
• In the latest quarter BlueLinx missed EPS at ($0.47) versus ($0.42) expected but beat revenue with $715.8 million; the stock opened at $58.28 and the company has a market cap of about $458.7 million with a negative P/E.
• BlueLinx shows strong liquidity metrics (quick ratio 3.12, current ratio 4.66) with a debt-to-equity of 0.96, and approximately 90.8% of shares are owned by hedge funds and other institutional investors.

BlueLinx (NYSE:BXC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

BXC has been the subject of a number of other research reports. Benchmark lowered their price target on shares of BlueLinx from $83.00 to $75.00 and set a "buy" rating for the company in a report on Friday, February 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BlueLinx in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BlueLinx has a consensus rating of "Hold" and an average target price of $71.50.

BlueLinx Trading Up 1.3%

Shares of BlueLinx stock opened at $58.28 on Friday. The firm has a market cap of $458.67 million, a price-to-earnings ratio of -5,828,100.00 and a beta of 1.70. The business has a 50-day moving average price of $57.89 and a 200-day moving average price of $63.74. The company has a quick ratio of 3.12, a current ratio of 4.66 and a debt-to-equity ratio of 0.96. BlueLinx has a twelve month low of $44.78 and a twelve month high of $88.30.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.05). BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The firm had revenue of $715.80 million for the quarter, compared to analysts' expectations of $703.84 million.

Hedge Funds Weigh In On BlueLinx

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in BlueLinx by 1.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,788 shares of the construction company's stock worth $847,000 after acquiring an additional 154 shares in the last quarter. Versant Capital Management Inc grew its position in BlueLinx by 86.2% in the third quarter. Versant Capital Management Inc now owns 350 shares of the construction company's stock worth $26,000 after acquiring an additional 162 shares in the last quarter. Exchange Traded Concepts LLC grew its position in BlueLinx by 5.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,637 shares of the construction company's stock worth $266,000 after acquiring an additional 175 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BlueLinx by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,863 shares of the construction company's stock worth $365,000 after buying an additional 220 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of BlueLinx by 19.5% in the fourth quarter. State of Wyoming now owns 1,456 shares of the construction company's stock worth $89,000 after buying an additional 238 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

About BlueLinx

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.

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