Benchmark Cuts BlueLinx (NYSE:BXC) Price Target to $135.00

BlueLinx (NYSE:BXC) had its target price decreased by Benchmark from $144.00 to $135.00 in a research note published on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the construction company’s stock.

Separately, TheStreet lowered BlueLinx from a b rating to a c rating in a research report on Thursday, February 22nd.

BlueLinx Trading Up 0.1 %

Shares of BlueLinx stock opened at $102.54 on Thursday. The firm has a market cap of $888.20 million, a price-to-earnings ratio of 19.24 and a beta of 1.96. The business has a 50-day moving average price of $119.70 and a 200-day moving average price of $107.11. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.88. BlueLinx has a twelve month low of $67.76 and a twelve month high of $132.67.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share for the quarter. The firm had revenue of $712.53 million during the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%.

Insider Buying and Selling at BlueLinx

In other news, Director Mitchell B. Lewis sold 5,352 shares of BlueLinx stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the sale, the director now owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mitchell B. Lewis sold 5,352 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the sale, the director now owns 33,476 shares in the company, valued at approximately $3,894,263.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell B. Lewis sold 314 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total value of $37,394.26. Following the sale, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The disclosure for this sale can be found here. Insiders sold 8,570 shares of company stock worth $1,000,196 over the last 90 days. Company insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On BlueLinx

Several hedge funds have recently made changes to their positions in BXC. Raymond James & Associates acquired a new position in shares of BlueLinx in the 3rd quarter valued at $205,000. Stratos Wealth Partners LTD. acquired a new position in shares of BlueLinx in the 3rd quarter valued at $295,000. Bank of New York Mellon Corp increased its position in shares of BlueLinx by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 78,181 shares of the construction company’s stock valued at $6,418,000 after acquiring an additional 630 shares during the period. Principal Financial Group Inc. increased its position in shares of BlueLinx by 51.1% in the 3rd quarter. Principal Financial Group Inc. now owns 5,240 shares of the construction company’s stock valued at $430,000 after acquiring an additional 1,772 shares during the period. Finally, Privium Fund Management UK Ltd increased its position in shares of BlueLinx by 24.6% in the 3rd quarter. Privium Fund Management UK Ltd now owns 3,708 shares of the construction company’s stock valued at $311,000 after acquiring an additional 732 shares during the period. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Company Profile

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.