BlueLinx Holdings Inc. (NYSE:BXC) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst sentiment is neutral: Six analysts give BlueLinx an average “Hold” rating—four holds, one sell, and one buy—with an average 12-month price target of $83.50.
• BlueLinx reported quarterly EPS of $0.68, beating the $0.60 consensus estimate, while revenue of $812.61 million came in slightly below expectations of $814.17 million.
• Institutional investors and hedge funds own 90.83% of BlueLinx shares; the stock opened at $62.88 and has traded between $44.78 and $93.80 over the past year.

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) has been assigned an average recommendation of "Hold" from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $83.50.

A number of research analysts recently issued reports on the stock. Citizens Jmp started coverage on shares of BlueLinx in a report on Thursday, September 24th. They set a "market perform" rating for the company. Zacks Research began coverage on shares of BlueLinx in a report on Monday, November 2nd. They issued a "hold" rating on the stock. Wall Street Zen cut shares of BlueLinx from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup started coverage on shares of BlueLinx in a report on Thursday, September 24th. They issued a "market perform" rating for the company. Finally, Weiss Ratings restated a "sell (d)" rating on shares of BlueLinx in a research report on Monday, August 17th.

Hedge Funds Weigh In On BlueLinx

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its stake in BlueLinx by 8.3% in the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company's stock valued at $595,000 after buying an additional 734 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 2,008 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of BlueLinx by 28.2% in the third quarter. Russell Investments Group Ltd. now owns 17,228 shares of the construction company's stock valued at $1,226,000 after acquiring an additional 3,789 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of BlueLinx in the second quarter valued at about $364,000. Finally, Punch & Associates Investment Management Inc. increased its position in shares of BlueLinx by 2.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company's stock valued at $17,439,000 after acquiring an additional 6,538 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

Shares of BXC opened at $62.88 on Friday. The company has a current ratio of 3.84, a quick ratio of 2.51 and a debt-to-equity ratio of 0.94. BlueLinx has a 1 year low of $44.78 and a 1 year high of $93.80. The stock has a market cap of $494.26 million, a P/E ratio of -120.93 and a beta of 1.47. The stock's 50-day moving average price is $74.19 and its two-hundred day moving average price is $64.69.

BlueLinx (NYSE:BXC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The construction company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.08. The company had revenue of $812.61 million during the quarter, compared to analysts' expectations of $814.17 million. BlueLinx had a positive return on equity of 0.42% and a negative net margin of 0.14%. On average, equities analysts predict that BlueLinx will post 0.97 earnings per share for the current year.

About BlueLinx

BlueLinx Holdings Inc. is a U.S. wholesale distributor of building products, serving dealers, home improvement retailers, manufactured housing producers, and other customers in the construction and building materials industries. The company distributes structural products such as lumber, plywood, oriented strand board, and engineered wood, as well as specialty products including siding, trim, insulation, roofing materials, and composite products. It also provides logistics and other distribution services to help customers source and transport building materials.

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