BlueLinx (NYSE:BXC) Price Target Raised to $135.00 at Craig Hallum

BlueLinx (NYSE:BXC) had its price target boosted by equities research analysts at Craig Hallum from $125.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Craig Hallum’s price target suggests a potential upside of 19.79% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. DA Davidson increased their price target on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of BlueLinx in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $135.67.

BlueLinx Price Performance

BXC stock traded down $7.89 during trading hours on Thursday, hitting $112.70. 79,577 shares of the stock traded hands, compared to its average volume of 84,941. The stock has a 50-day simple moving average of $101.67 and a 200 day simple moving average of $110.86. BlueLinx has a one year low of $67.76 and a one year high of $132.67. The company has a market cap of $975.98 million, a P/E ratio of 21.14 and a beta of 1.90. The company has a current ratio of 4.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.88.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter. BlueLinx had a return on equity of 12.20% and a net margin of 1.26%. The business had revenue of $726.24 million during the quarter.

Institutional Investors Weigh In On BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Harbor Capital Advisors Inc. lifted its holdings in BlueLinx by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 54,536 shares of the construction company’s stock worth $5,077,000 after purchasing an additional 39,930 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in BlueLinx in the 1st quarter worth approximately $4,195,000. ABS Direct Equity Fund LLC acquired a new stake in BlueLinx in the 4th quarter worth approximately $3,127,000. Empowered Funds LLC lifted its holdings in BlueLinx by 70.9% in the 1st quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock worth $8,157,000 after purchasing an additional 25,972 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in BlueLinx by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock worth $62,828,000 after buying an additional 17,891 shares during the period. 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.