BlueLinx (NYSE:BXC) Price Target Cut to $120.00 by Analysts at Benchmark

BlueLinx (NYSE:BXC) had its price target reduced by equities research analysts at Benchmark from $135.00 to $120.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Benchmark’s price objective indicates a potential upside of 42.41% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. DA Davidson lowered their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com downgraded shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.67.

BlueLinx Trading Down 6.6 %

NYSE BXC traded down $5.98 during trading hours on Friday, hitting $84.27. The company’s stock had a trading volume of 23,582 shares, compared to its average volume of 63,283. BlueLinx has a twelve month low of $84.69 and a twelve month high of $134.79. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $698.98 million, a P/E ratio of 13.73 and a beta of 2.04. The stock has a fifty day moving average of $104.81 and a 200 day moving average of $107.52.

BlueLinx (NYSE:BXC) last issued its 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 firm had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million.

Institutional Investors Weigh In On BlueLinx

Several large investors have recently made changes to their positions in BXC. Public Employees Retirement System of Ohio boosted its holdings in 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 purchasing an additional 140 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in BlueLinx during the fourth quarter worth $61,000. Quest Partners LLC boosted its holdings in BlueLinx by 43.2% during the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after purchasing an additional 342 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock valued at $120,000 after acquiring an additional 379 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 90.83% of the company’s stock.

About BlueLinx

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.