BlueLinx (NYSE:BXC) PT Set at $75.00 by DA Davidson

Key Points

• DA Davidson has lowered its price target for BlueLinx from $80.00 to $75.00, maintaining a "neutral" rating on the stock.
• Several brokerages have issued varying ratings and price targets for BlueLinx, with Loop Capital setting a target of $115.00 and Benchmark lowering it to $83.00.
• The company has authorized a $50 million share buyback plan, indicating that its leadership believes the stock is undervalued.

BlueLinx (NYSE:BXC - Get Free Report) has been given a $75.00 target price by stock analysts at DA Davidson in a report issued on Monday, August 4th, Marketbeat reports. The brokerage presently has a "neutral" rating on the construction company's stock. DA Davidson's price objective points to a potential upside of 3.74% from the stock's current price.

BXC has been the subject of several other reports. Wall Street Zen downgraded shares of BlueLinx from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Loop Capital decreased their price objective on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Benchmark decreased their price objective on BlueLinx from $110.00 to $83.00 and set a "buy" rating for the company in a report on Friday, August 1st.

BlueLinx Stock Down 2.1%

Shares of NYSE:BXC opened at $72.30 on Monday. The company has a fifty day moving average of $75.04 and a 200-day moving average of $78.32. The company has a market capitalization of $570.41 million, a PE ratio of 21.45 and a beta of 1.74. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.94 and a current ratio of 4.55. BlueLinx has a 52-week low of $63.13 and a 52-week high of $134.79.

BlueLinx announced that its board has authorized a share buyback plan on Tuesday, July 29th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of BlueLinx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its position in BlueLinx by 33.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock valued at $51,000 after acquiring an additional 127 shares during the last quarter. CWM LLC boosted its position in BlueLinx by 92.8% during the first quarter. CWM LLC now owns 696 shares of the construction company's stock valued at $52,000 after acquiring an additional 335 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in BlueLinx by 352.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock valued at $150,000 after acquiring an additional 1,144 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of BlueLinx by 169.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company's stock worth $121,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of BlueLinx during the 1st quarter worth about $153,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.