BlueLinx (NYSE:BXC) Stock Rated Market Perform in New Coverage at Citizens Jmp

Citizens Jmp initiated coverage on shares of BlueLinx (NYSE:BXC) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a market perform rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. Benchmark boosted their price objective on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup started coverage on shares of BlueLinx in a research note on Thursday. They set a “market perform” rating for the company. DA Davidson boosted their price target on shares of BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.50.

BlueLinx Trading Up 3.5%

BlueLinx stock opened at $76.42 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.59 and a current ratio of 4.01. The firm has a market cap of $600.64 million, a price-to-earnings ratio of -305.66 and a beta of 1.45. BlueLinx has a 1 year low of $44.78 and a 1 year high of $93.80. The firm’s 50 day moving average price is $75.44 and its two-hundred day moving average price is $61.44.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85. The company had revenue of $814.08 million during the quarter, compared to the consensus estimate of $793.72 million. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.

Hedge Funds Weigh In On BlueLinx

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC increased its holdings in shares of BlueLinx by 8.3% in the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock valued at $595,000 after purchasing an additional 734 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of BlueLinx by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock worth $27,771,000 after purchasing an additional 2,008 shares during the period. Meros Investment Management LP grew its position in BlueLinx by 4.3% during the fourth quarter. Meros Investment Management LP now owns 82,266 shares of the construction company’s stock valued at $5,054,000 after purchasing an additional 3,385 shares in the last quarter. WINTON GROUP Ltd purchased a new position in BlueLinx during the second quarter valued at approximately $364,000. Finally, Punch & Associates Investment Management Inc. increased its stake in BlueLinx by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock valued at $17,439,000 after buying an additional 6,538 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

About BlueLinx

BlueLinx Holdings Inc is a distributor of building products serving professional contractors, dealers, homebuilders, industrial manufacturers and other customers in the construction industry. The company operates through a network of distribution facilities and supplies products from manufacturers to customers across the United States.

Its product portfolio includes structural products such as lumber, engineered wood and panels, as well as specialty products including siding, trim, roofing, insulation, gypsum and related building materials.