Benchmark Trims BlueLinx (NYSE:BXC) Target Price to $135.00

BlueLinx (NYSE:BXC) had its price target lowered by Benchmark from $144.00 to $135.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Separately, TheStreet downgraded BlueLinx from a b rating to a c rating in a research note on Thursday, February 22nd.

BlueLinx Stock Up 0.1 %

Shares of BlueLinx stock traded up $0.09 during trading hours on Thursday, hitting $102.54. The company had a trading volume of 102,327 shares, compared to its average volume of 80,860. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.71 and a quick ratio of 3.55. The company’s 50-day moving average is $119.70 and its two-hundred day moving average is $106.88. The company has a market cap of $888.00 million, a P/E ratio of 19.24 and a beta of 1.96. BlueLinx has a twelve month low of $67.76 and a twelve month high of $132.67.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.11%. The company had revenue of $712.53 million during the quarter.

Insider Activity

In other BlueLinx news, Director Mitchell B. Lewis sold 2,904 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total transaction of $340,203.60. Following the completion of the sale, the director now directly owns 2,790 shares of the company’s stock, valued at approximately $326,848.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mitchell B. Lewis sold 5,352 shares of BlueLinx stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $116.33, for a total value of $622,598.16. Following the sale, the director now owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell B. Lewis sold 2,904 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $117.15, for a total transaction of $340,203.60. Following the transaction, the director now directly owns 2,790 shares of the company’s stock, valued at $326,848.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,570 shares of company stock valued at $1,000,196. Insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its holdings in shares of BlueLinx by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 7,617 shares of the construction company’s stock valued at $863,000 after buying an additional 102 shares during the period. Raymond James & Associates grew its stake in shares of BlueLinx by 4.6% during the 4th quarter. Raymond James & Associates now owns 2,616 shares of the construction company’s stock worth $296,000 after purchasing an additional 116 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of BlueLinx by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,751 shares of the construction company’s stock valued at $425,000 after purchasing an additional 156 shares in the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of BlueLinx by 3.1% in the third quarter. Oliver Luxxe Assets LLC now owns 6,230 shares of the construction company’s stock valued at $511,000 after purchasing an additional 186 shares during the period. Finally, SkyView Investment Advisors LLC boosted its holdings in BlueLinx by 2.8% during the third quarter. SkyView Investment Advisors LLC now owns 8,057 shares of the construction company’s stock worth $661,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.