BlueLinx Holdings Inc. (BXC) – What Are Brokerages Thinking About This Stock?

BlueLinx Holdings Inc. (NYSE:BXC) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $83.50.

Several research firms recently commented on BXC. Citigroup started coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock. Wall Street Zen raised BlueLinx from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark boosted their target price on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citizens Jmp began coverage on BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock. Finally, DA Davidson upped their price target on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th.

BlueLinx Stock Up 0.1%

BXC opened at $76.81 on Monday. BlueLinx has a twelve month low of $44.78 and a twelve month high of $93.80. The company’s 50-day moving average price is $77.16 and its two-hundred day moving average price is $64.59. The stock has a market cap of $603.70 million, a price-to-earnings ratio of -307.21 and a beta of 1.43. The company has a quick ratio of 2.59, a current ratio of 4.01 and a debt-to-equity ratio of 0.95.

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

Institutional Investors Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its stake in BlueLinx by 8.3% during 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of BlueLinx by 0.4% in the 1st 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 in the last quarter. WINTON GROUP Ltd purchased a new position in shares of BlueLinx in the second quarter worth $364,000. Punch & Associates Investment Management Inc. raised its stake in shares of BlueLinx by 2.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock worth $17,439,000 after purchasing an additional 6,538 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in shares of BlueLinx in the third quarter worth $595,000. 90.83% of the stock is currently owned by institutional investors.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.