BlueLinx Holdings Inc. (NYSE:BXC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of BlueLinx Holdings Inc. (NYSE:BXCGet Rating) have earned a consensus rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $104.25.

Several equities analysts have issued reports on the company. Craig Hallum lifted their price objective on BlueLinx from $104.00 to $115.00 in a research report on Thursday, February 24th. Benchmark lifted their price objective on BlueLinx from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 24th. StockNews.com initiated coverage on BlueLinx in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Finally, TheStreet raised BlueLinx from a “c” rating to a “b-” rating in a research note on Wednesday.

Several institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L grew its stake in shares of BlueLinx by 5.0% during the third quarter. Gendell Jeffrey L now owns 477,892 shares of the construction company’s stock worth $23,359,000 after purchasing an additional 22,919 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of BlueLinx during the third quarter worth $8,382,000. Geode Capital Management LLC grew its stake in shares of BlueLinx by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 160,467 shares of the construction company’s stock worth $15,366,000 after purchasing an additional 2,253 shares during the period. Morgan Stanley grew its stake in shares of BlueLinx by 519.7% during the second quarter. Morgan Stanley now owns 91,265 shares of the construction company’s stock worth $4,589,000 after purchasing an additional 76,538 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of BlueLinx by 30.9% during the fourth quarter. Deutsche Bank AG now owns 82,305 shares of the construction company’s stock worth $7,882,000 after purchasing an additional 19,439 shares during the period. 81.13% of the stock is owned by institutional investors and hedge funds.

Shares of BXC stock opened at $97.91 on Friday. The stock has a 50 day moving average of $77.78 and a two-hundred day moving average of $76.59. The company has a current ratio of 3.88, a quick ratio of 1.87 and a debt-to-equity ratio of 1.74. BlueLinx has a 12 month low of $35.00 and a 12 month high of $100.01. The company has a market capitalization of $952.66 million, a P/E ratio of 2.66 and a beta of 1.79.

BlueLinx (NYSE:BXCGet Rating) last posted its earnings results on Tuesday, May 3rd. The construction company reported $13.19 EPS for the quarter, topping the consensus estimate of $8.59 by $4.60. BlueLinx had a return on equity of 125.54% and a net margin of 8.07%.

BlueLinx Company Profile (Get Rating)

BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, industrial products, cedar, moulding, siding, metal, and insulation products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, spruce, and other wood products primarily that are used for structural support in construction projects.

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