BlueLinx Holdings Inc. (NYSE:BXC) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on BlueLinx, with three holds, one buy and one sell among five analysts. The average 12-month price target is $83.50.
• BlueLinx shares fell 5.8% to $75.16, trading between a 12-month range of $44.78 and $93.80.
• The company reported quarterly EPS of $1.15, significantly above the $0.30 analyst consensus, while revenue of $814.08 million also exceeded expectations. Institutional investors own approximately 90.83% of the stock.

Shares of BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) have been assigned an average rating of "Hold" from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $83.50.

A number of brokerages have commented on BXC. Wall Street Zen raised shares of BlueLinx from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. DA Davidson lifted their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Citigroup initiated coverage on BlueLinx in a report on Thursday. They issued a "market perform" rating on the stock. Benchmark lifted their target price on shares of BlueLinx from $75.00 to $83.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Citizens Jmp assumed coverage on shares of BlueLinx in a research note on Thursday. They set a "market perform" rating for the company.

BlueLinx Stock Down 5.8%

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

BXC traded down $4.65 during trading hours on Thursday, hitting $75.16. 40,824 shares of the company's stock were exchanged, compared to its average volume of 131,360. BlueLinx has a 12-month low of $44.78 and a 12-month high of $93.80. The firm has a 50 day moving average of $74.87 and a 200 day moving average of $61.24. The firm has a market cap of $590.76 million, a P/E ratio of -302.62 and a beta of 1.45. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95.

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, beating the consensus estimate of $0.30 by $0.85. The company had revenue of $814.08 million during the quarter, compared to analysts' expectations of $793.72 million. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%.

Institutional Trading of BlueLinx

A number of institutional investors have recently modified their holdings of BXC. WINTON GROUP Ltd acquired a new position in BlueLinx during the second quarter worth about $364,000. Squarepoint Ops LLC boosted its stake in shares of BlueLinx by 8.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company's stock worth $595,000 after acquiring an additional 734 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of BlueLinx during the 2nd quarter worth approximately $788,000. Bank of New York Mellon Corp acquired a new stake in shares of BlueLinx in the 2nd quarter worth approximately $1,571,000. Finally, Empowered Funds LLC increased its stake in BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company's stock valued at $5,961,000 after purchasing an additional 32,943 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

About BlueLinx

BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.

Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.

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