Loop Capital Has Lowered Expectations for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC) had its price target dropped by research analysts at Loop Capital from $120.00 to $115.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would indicate a potential upside of 63.71% from the company’s current price.

A number of other analysts have also recently weighed in on the company. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Benchmark reduced their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, DA Davidson decreased their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.25.

BlueLinx Trading Down 1.4 %

NYSE:BXC opened at $70.25 on Monday. The company has a market capitalization of $582.71 million, a P/E ratio of 11.44 and a beta of 1.82. The stock’s 50 day moving average price is $81.83 and its 200 day moving average price is $101.37. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. BlueLinx has a 52 week low of $67.42 and a 52 week high of $134.79.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million.

Institutional Trading of BlueLinx

Several hedge funds have recently added to or reduced their stakes in BXC. Public Employees Retirement System of Ohio lifted its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after buying an additional 140 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in BlueLinx in the 4th quarter valued at $61,000. AlphaQuest LLC boosted its holdings in BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after purchasing an additional 322 shares during the period. Tower Research Capital LLC TRC grew its position in BlueLinx by 352.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company’s stock worth $150,000 after purchasing an additional 1,144 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after purchasing an additional 147 shares during the period. Institutional investors own 90.83% of the company’s stock.

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.