BlueLinx (NYSE:BXC) Stock Bumped Up to Buy by Wall Street Zen

Wall Street Zen upgraded shares of BlueLinx (NYSE:BXC) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also commented on BXC. Citizens Jmp assumed coverage on shares of BlueLinx in a research report on Thursday, September 24th. They set a “market perform” rating on the stock. Citigroup began coverage on shares of BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating for the company. DA Davidson boosted their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. Finally, Benchmark raised their target price on shares of BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.50.

BlueLinx Stock Down 4.4%

BXC stock opened at $76.81 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59. The stock has a market capitalization of $603.70 million, a price-to-earnings ratio of -307.21 and a beta of 1.43. The business’s fifty day moving average price is $77.16 and its two-hundred day moving average price is $64.50. BlueLinx has a fifty-two week low of $44.78 and a fifty-two week high of $93.80.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.85. The company had revenue of $814.08 million during the quarter, compared to the consensus estimate of $793.72 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.

Institutional Investors Weigh In On BlueLinx

A number of large investors have recently modified their holdings of BXC. WINTON GROUP Ltd bought a new position in shares of BlueLinx in the 2nd quarter valued at $364,000. SummerHaven Investment Management LLC acquired a new stake in BlueLinx in the third quarter valued at about $595,000. Squarepoint Ops LLC grew its position in BlueLinx by 8.3% in the second quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock valued at $595,000 after acquiring an additional 734 shares during the last quarter. Fifth Third Bancorp bought a new position in BlueLinx in the first quarter valued at about $689,000. Finally, Public Employees Retirement System of Ohio bought a new position in BlueLinx in the second quarter valued at about $788,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.