Benchmark Lowers BlueLinx (NYSE:BXC) Price Target to $75.00

BlueLinx (NYSE:BXC) had its price objective dropped by analysts at Benchmark from $83.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Benchmark’s target price would indicate a potential upside of 14.26% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. DA Davidson set a $68.00 price objective on shares of BlueLinx in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BlueLinx currently has a consensus rating of “Hold” and a consensus target price of $86.00.

BlueLinx Price Performance

Shares of BXC opened at $65.64 on Friday. The firm has a fifty day simple moving average of $70.38 and a two-hundred day simple moving average of $70.37. The firm has a market cap of $516.59 million, a PE ratio of -6,564,100.00 and a beta of 1.63. The company has a current ratio of 4.66, a quick ratio of 3.15 and a debt-to-equity ratio of 0.96. BlueLinx has a 1-year low of $52.71 and a 1-year high of $88.30.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, February 24th. The construction company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.05). The firm had revenue of $715.80 million during the quarter, compared to the consensus estimate of $703.84 million. BlueLinx had a negative return on equity of 0.23% and a net margin of 0.01%.

Hedge Funds Weigh In On BlueLinx

Several institutional investors have recently bought and sold shares of the stock. Catawba River Capital purchased a new position in shares of BlueLinx during the third quarter valued at about $7,431,000. Mutual Advisors LLC boosted its stake in BlueLinx by 87.3% during the third quarter. Mutual Advisors LLC now owns 16,280 shares of the construction company’s stock valued at $1,167,000 after buying an additional 7,589 shares during the last quarter. Third Avenue Management LLC boosted its stake in BlueLinx by 55.2% during the second quarter. Third Avenue Management LLC now owns 46,357 shares of the construction company’s stock valued at $3,448,000 after buying an additional 16,488 shares during the last quarter. Towle & Co. grew its holdings in BlueLinx by 41.3% during the 3rd quarter. Towle & Co. now owns 78,186 shares of the construction company’s stock valued at $5,714,000 after buying an additional 22,855 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in BlueLinx by 150.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 26,445 shares of the construction company’s stock worth $1,933,000 after acquiring an additional 15,887 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.