BlueLinx (NYSE:BXC) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded BlueLinx from “hold” to “buy,” while analysts remain divided; MarketBeat’s consensus rating is still “Hold” with an average price target of $83.50.
• BlueLinx shares rose 4.8% to $89.53, near their 52-week high of $90.87. The stock has a market capitalization of approximately $703.75 million.
• The company reported quarterly EPS of $1.15, beating the $0.30 consensus estimate, and revenue of $814.08 million versus expectations of $793.72 million; institutional investors own 90.83% of the stock.

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

BXC has been the subject of a number of other reports. Benchmark increased their price target on BlueLinx from $75.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of BlueLinx in a report on Wednesday, May 20th. Finally, 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 research report on Thursday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $83.50.

BlueLinx Trading Up 4.8%

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

Shares of BlueLinx stock opened at $89.53 on Friday. The firm has a market capitalization of $703.75 million, a price-to-earnings ratio of -358.13 and a beta of 1.44. BlueLinx has a fifty-two week low of $44.78 and a fifty-two week high of $90.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.51 and a current ratio of 4.01. The stock has a 50 day moving average of $57.93 and a 200 day moving average of $59.14.

BlueLinx (NYSE:BXC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $814.08 million during the quarter, compared to analysts' expectations of $793.72 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gendell Jeffrey L grew its holdings in shares of BlueLinx by 9.0% in the fourth quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company's stock valued at $44,168,000 after purchasing an additional 59,657 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in BlueLinx by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company's stock valued at $27,771,000 after buying an additional 2,008 shares during the period. Punch & Associates Investment Management Inc. boosted its position 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of BlueLinx by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company's stock worth $18,723,000 after acquiring an additional 42,904 shares in the last quarter. Finally, River Road Asset Management LLC grew its stake in shares of BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company's stock worth $14,774,000 after acquiring an additional 21,640 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company's stock.

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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