BlueLinx Holdings Inc. (BXC) - What Are Researchers Saying About This Stock?

Key Points

• Analyst consensus is “Hold”: Of five analysts covering BlueLinx, one rates it a sell, three hold, and one buy. The average 12-month price target is $83.50.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 90.83% of BXC shares, with several firms increasing their positions during the first quarter.
• Latest quarterly results exceeded expectations: BlueLinx reported earnings of $1.15 per share versus the $0.30 consensus estimate and revenue of $814.08 million, above the $793.72 million forecast.

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $83.50.

A number of research firms recently weighed in on BXC. Wall Street Zen downgraded BlueLinx from a "buy" rating to a "hold" rating in a report on Saturday, September 26th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BlueLinx in a research report on Monday, August 17th. Benchmark lifted their target price on 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 price target on BlueLinx from $65.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Finally, Citizens Jmp started coverage on BlueLinx in a research report on Thursday, September 24th. They issued a "market perform" rating on the stock.

Hedge Funds Weigh In On BlueLinx

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in BlueLinx by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company's stock valued at $27,771,000 after acquiring an additional 2,008 shares during the last quarter. Punch & Associates Investment Management Inc. raised its holdings in BlueLinx by 2.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company's stock worth $17,439,000 after purchasing an additional 6,538 shares during the last quarter. Empowered Funds LLC lifted its position in shares of BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company's stock worth $5,961,000 after purchasing an additional 32,943 shares during the period. Heartland Advisors Inc. lifted its position in shares of BlueLinx by 22.8% in the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company's stock worth $4,989,000 after purchasing an additional 17,075 shares during the period. Finally, Sei Investments Co. lifted its position in shares of BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company's stock worth $3,229,000 after purchasing an additional 28,571 shares during the period. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

BXC stock opened at $73.39 on Monday. The company has a fifty day moving average price of $78.49 and a 200-day moving average price of $63.77. The company has a market capitalization of $576.81 million, a P/E ratio of -293.53 and a beta of 1.43. BlueLinx has a 52-week low of $44.78 and a 52-week high of $93.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01.

BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The company had revenue of $814.08 million for the quarter, compared to analyst estimates of $793.72 million.

About BlueLinx

BlueLinx Corporation is a wholesale distributor of building products in the United States. The company supplies materials used in residential and commercial construction, remodeling, and industrial applications to customers such as lumberyards, building-material dealers, home improvement retailers, and manufactured housing producers.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board, engineered wood, and other panels. BlueLinx also distributes specialty products, including siding, trim, roofing materials, insulation, gypsum products, and related building components.

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