DA Davidson Lowers BlueLinx (NYSE:BXC) Price Target to $80.00

BlueLinx (NYSE:BXC) had its target price dropped by analysts at DA Davidson from $119.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective suggests a potential upside of 17.44% from the stock’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Loop Capital reduced their target price on shares of BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Benchmark dropped their price target on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlueLinx presently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

BlueLinx Stock Performance

Shares of BXC opened at $68.12 on Thursday. The company has a market capitalization of $557.29 million, a PE ratio of 11.09 and a beta of 1.82. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The company’s 50 day moving average price is $75.23 and its 200 day moving average price is $98.15. BlueLinx has a 52 week low of $63.55 and a 52 week high of $134.79.

BlueLinx (NYSE:BXC) last posted 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 net margin of 1.80% and a return on equity of 7.50%. The company had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million.

Institutional Investors Weigh In On BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Public Employees Retirement System of Ohio raised its position in shares of BlueLinx by 33.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock valued at $51,000 after purchasing an additional 127 shares during the period. PNC Financial Services Group Inc. bought a new position in BlueLinx in the 4th quarter worth $61,000. CWM LLC lifted its position in BlueLinx by 92.8% during the 1st quarter. CWM LLC now owns 696 shares of the construction company’s stock worth $52,000 after acquiring an additional 335 shares during the last quarter. AlphaQuest LLC lifted its position in BlueLinx by 28.4% during the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after acquiring an additional 322 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in BlueLinx by 352.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company’s stock valued at $150,000 after acquiring an additional 1,144 shares during the period. 90.83% of the stock is currently 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.