BlueLinx (NYSE:BXC) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of BlueLinx (NYSE:BXC) from a buy rating to a hold rating in a report issued on Monday,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on BXC. DA Davidson raised their price target on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Citizens Jmp initiated coverage on BlueLinx in a report on Thursday, September 24th. They set a “market perform” rating for the company. Zacks Research initiated coverage on BlueLinx in a research note on Monday, November 2nd. They issued a “hold” rating for the company. Citigroup began coverage on BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating on the stock. Finally, Benchmark increased 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. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BlueLinx presently has an average rating of “Hold” and a consensus price target of $83.50.

BlueLinx Trading Up 7.6%

NYSE BXC opened at $65.25 on Monday. The company has a current ratio of 3.84, a quick ratio of 2.59 and a debt-to-equity ratio of 0.94. BlueLinx has a 1-year low of $44.78 and a 1-year high of $93.80. The firm’s fifty day simple moving average is $74.99 and its 200-day simple moving average is $64.83. The company has a market capitalization of $512.85 million, a PE ratio of 240.29 and a beta of 1.47.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, November 3rd. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. BlueLinx had a positive return on equity of 0.42% and a negative net margin of 0.14%. The firm had revenue of $812.61 million during the quarter, compared to analysts’ expectations of $814.17 million. As a group, sell-side analysts anticipate that BlueLinx will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlueLinx

Several institutional investors have recently bought and sold shares of BXC. Empowered Funds LLC boosted its stake in shares of BlueLinx by 42.7% during the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after acquiring an additional 32,943 shares in the last quarter. Sei Investments Co. raised its stake in shares of BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock valued at $3,229,000 after acquiring an additional 28,571 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of BlueLinx in the 2nd quarter valued at approximately $1,571,000. Quantinno Capital Management LP lifted its holdings in BlueLinx by 124.7% in the 1st quarter. Quantinno Capital Management LP now owns 34,657 shares of the construction company’s stock worth $1,878,000 after purchasing an additional 19,236 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in BlueLinx by 22.8% in the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock worth $4,989,000 after purchasing an additional 17,075 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Company Profile

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.