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

BlueLinx Holdings Inc. (NYSE:BXC) has received an average rating of “Buy” from the three ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $124.67.

A number of equities research analysts have weighed in on the company. DA Davidson lowered their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday. Benchmark lowered their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Loop Capital lowered their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com downgraded BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of BlueLinx by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock valued at $59,216,000 after buying an additional 1,889 shares during the last quarter. American Century Companies Inc. boosted its position in BlueLinx by 8.4% in the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after purchasing an additional 24,087 shares during the last quarter. Victory Capital Management Inc. boosted its position in BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after purchasing an additional 187,456 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in BlueLinx by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after purchasing an additional 32,693 shares during the last quarter. Finally, State Street Corp boosted its position in BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock worth $20,873,000 after purchasing an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Trading Down 7.4 %

Shares of BXC stock traded down $6.69 during mid-day trading on Friday, reaching $83.56. 54,693 shares of the stock traded hands, compared to its average volume of 64,222. The stock’s fifty day simple moving average is $104.81 and its two-hundred day simple moving average is $107.52. BlueLinx has a 1-year low of $82.99 and a 1-year high of $134.79. The company has a market cap of $693.09 million, a price-to-earnings ratio of 13.61 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $700.66 million.

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.