BlueLinx (NYSE:BXC) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of BlueLinx (NYSE:BXC) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. DA Davidson raised their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Citizens Jmp initiated coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock. Citigroup started coverage on BlueLinx in a research note on Thursday. They issued a “market perform” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. Finally, Benchmark lifted their price target on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.50.

BlueLinx Stock Down 2.0%

Shares of NYSE BXC opened at $74.84 on Friday. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average of $75.80 and a 200-day moving average of $61.59. The firm has a market capitalization of $588.23 million, a price-to-earnings ratio of -299.34 and a beta of 1.45. BlueLinx has a 12 month low of $44.78 and a 12 month high of $93.80.

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

Institutional Investors Weigh In On BlueLinx

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of BlueLinx by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after purchasing an additional 2,008 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in BlueLinx by 2.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock worth $17,439,000 after purchasing an additional 6,538 shares during the last quarter. River Road Asset Management LLC lifted its stake in BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock worth $14,774,000 after purchasing an additional 21,640 shares during the last quarter. Empowered Funds LLC boosted its position in BlueLinx by 42.7% during the first quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock valued at $5,961,000 after buying an additional 32,943 shares during the period. Finally, Heartland Advisors Inc. boosted its position in BlueLinx by 22.8% during the first quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock valued at $4,989,000 after buying an additional 17,075 shares during the period. 90.83% of the stock is currently owned by institutional investors.

About BlueLinx

BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.

Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.