BlueLinx Holdings Inc. (NYSE:BXC) Given Average Recommendation of “Hold” by Analysts

BlueLinx Holdings Inc. (NYSE:BXC) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities 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 12-month price target among analysts that have issued ratings on the stock in the last year is $83.50.

BXC has been the topic of several recent research reports. Benchmark upped their price objective on BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citigroup started coverage on shares of BlueLinx in a research note on Thursday. They set a “market perform” rating on the stock. Wall Street Zen raised shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson lifted their target price on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th.

Institutional Trading of BlueLinx

A number of hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd purchased a new position in shares of BlueLinx in the 2nd quarter worth about $364,000. Squarepoint Ops LLC increased its position in BlueLinx by 8.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock worth $595,000 after purchasing an additional 734 shares in the last quarter. Fifth Third Bancorp purchased a new position in BlueLinx in the first quarter valued at approximately $689,000. Public Employees Retirement System of Ohio purchased a new position in BlueLinx in the second quarter valued at approximately $788,000. Finally, Bank of New York Mellon Corp acquired a new position in BlueLinx during the second quarter valued at approximately $1,571,000. 90.83% of the stock is owned by institutional investors and hedge funds.

BlueLinx Price Performance

NYSE:BXC traded down $4.65 during mid-day trading on Thursday, hitting $75.16. 40,824 shares of the company’s stock traded hands, compared to its average volume of 131,360. 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’s 50 day simple moving average is $74.87 and its 200 day simple moving average is $61.24. BlueLinx has a 1 year low of $44.78 and a 1 year high of $93.80. The company has a market cap of $590.76 million, a PE ratio of -302.62 and a beta of 1.45.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating 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 business had revenue of $814.08 million for the quarter, compared to analyst estimates of $793.72 million.

BlueLinx Company Profile

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.