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

Shares of BlueLinx Holdings Inc. (NYSE:BXC) have been assigned a consensus recommendation of “Buy” from the three research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $124.67.

A number of analysts recently issued reports on BXC shares. Benchmark decreased their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday. DA Davidson decreased their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Loop Capital decreased their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday.

Hedge Funds Weigh In On BlueLinx

A number of institutional investors have recently added to or reduced their stakes in BXC. Vestcor Inc boosted its holdings in shares of BlueLinx by 1,797.6% in the 3rd quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock worth $1,340,000 after purchasing an additional 12,044 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of BlueLinx by 600.3% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of BlueLinx by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock worth $9,714,000 after purchasing an additional 4,363 shares in the last quarter. State Street Corp boosted its holdings in shares of BlueLinx by 0.6% in the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of BlueLinx by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after purchasing an additional 36,968 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Stock Performance

Shares of NYSE BXC traded down $6.69 during trading on Friday, reaching $83.56. 54,693 shares of the stock traded hands, compared to its average volume of 64,222. BlueLinx has a 52-week low of $82.99 and a 52-week high of $134.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. The company has a 50-day moving average of $104.81 and a 200-day moving average of $107.52. The stock has a market capitalization of $693.09 million, a P/E ratio of 13.61 and a beta of 2.04.

BlueLinx (NYSE:BXC) last issued 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 analysts’ expectations 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.