BlueLinx (NYSE:BXC) Price Target Cut to $119.00 by Analysts at DA Davidson

BlueLinx (NYSE:BXC) had its price target lowered by DA Davidson from $137.00 to $119.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

BlueLinx Price Performance

BXC stock opened at $89.96 on Thursday. BlueLinx has a 1 year low of $86.21 and a 1 year high of $134.79. The company has a market cap of $753.82 million, a P/E ratio of 14.65 and a beta of 2.04. The firm has a 50-day moving average of $105.45 and a 200 day moving average of $107.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.26.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.48% and a net margin of 1.80%. The company had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.

Hedge Funds Weigh In On BlueLinx

A number of institutional investors have recently bought and sold shares of BXC. Dimensional Fund Advisors LP grew its holdings in BlueLinx by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock worth $59,216,000 after purchasing an additional 1,889 shares during the period. American Century Companies Inc. grew its holdings in BlueLinx by 8.4% in the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after purchasing an additional 24,087 shares during the period. Victory Capital Management Inc. grew its holdings in BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after purchasing an additional 187,456 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in BlueLinx by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after purchasing an additional 32,693 shares during the period. Finally, State Street Corp grew its holdings in BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after purchasing an additional 1,252 shares during the period. 90.83% of the stock is owned by institutional investors.

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.