Divisadero Street Capital Management LP Raises Stake in BlueLinx Holdings Inc. (NYSE:BXC)

Divisadero Street Capital Management LP lifted its holdings in BlueLinx Holdings Inc. (NYSE:BXC - Free Report) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,545 shares of the construction company's stock after purchasing an additional 5,545 shares during the quarter. BlueLinx comprises about 0.8% of Divisadero Street Capital Management LP's portfolio, making the stock its 28th biggest position. Divisadero Street Capital Management LP owned approximately 0.78% of BlueLinx worth $6,696,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hunter Perkins Capital Management LLC raised its stake in BlueLinx by 4.0% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company's stock worth $534,000 after acquiring an additional 200 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of BlueLinx by 4.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,556 shares of the construction company's stock worth $568,000 after purchasing an additional 230 shares during the period. Invesco Ltd. boosted its position in BlueLinx by 2.8% in the fourth quarter. Invesco Ltd. now owns 10,947 shares of the construction company's stock valued at $1,118,000 after buying an additional 295 shares during the last quarter. AlphaQuest LLC increased its holdings in BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock worth $149,000 after buying an additional 322 shares during the period. Finally, XTX Topco Ltd raised its position in BlueLinx by 14.2% during the 4th quarter. XTX Topco Ltd now owns 2,747 shares of the construction company's stock worth $281,000 after buying an additional 341 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BXC shares. DA Davidson dropped their price objective on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Benchmark cut their price target on BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. StockNews.com lowered BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Loop Capital lowered their target price on BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Price Performance

Shares of BXC stock traded up $0.43 on Friday, reaching $68.18. 65,407 shares of the company were exchanged, compared to its average volume of 80,840. BlueLinx Holdings Inc. has a 1 year low of $63.55 and a 1 year high of $134.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The business has a 50-day moving average price of $73.93 and a 200 day moving average price of $96.70. The company has a market cap of $546.94 million, a price-to-earnings ratio of 11.10 and a beta of 1.99.

BlueLinx (NYSE:BXC - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a net margin of 1.80% and a return on equity of 7.50%. The firm had revenue of $710.64 million during the quarter, compared to analysts' expectations of $700.66 million.

BlueLinx Profile

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.