StockNews.com downgraded shares of BlueLinx (NYSE:BXC – Free Report) from a buy rating to a hold rating in a research note released on Friday morning.
Other equities research analysts have also recently issued reports about the stock. DA Davidson boosted their price target on shares of BlueLinx from $121.00 to $137.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on shares of BlueLinx from $125.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, BlueLinx currently has a consensus rating of Moderate Buy and a consensus target price of $135.67.
Read Our Latest Research Report on BlueLinx
BlueLinx Stock Up 2.6 %
BlueLinx (NYSE:BXC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 earnings per share (EPS) for the quarter. BlueLinx had a return on equity of 12.14% and a net margin of 1.26%. The business had revenue of $768.36 million during the quarter.
Institutional Trading of BlueLinx
Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC raised its position in shares of BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of BlueLinx during the 2nd quarter valued at $39,000. Meeder Asset Management Inc. acquired a new stake in shares of BlueLinx during the 2nd quarter worth $70,000. Allspring Global Investments Holdings LLC increased its position in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after purchasing an additional 425 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BlueLinx by 24.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,097 shares of the construction company’s stock valued at $195,000 after purchasing an additional 418 shares in 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.
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