BlueLinx Holdings Inc. (NYSE:BXC) Receives $124.67 Average Price Target from Analysts

BlueLinx Holdings Inc. (NYSE:BXC) has been assigned a consensus rating of “Buy” from the four brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $123.50.

Several research firms recently weighed in on BXC. StockNews.com downgraded BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. DA Davidson cut their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Benchmark decreased their target price on shares of BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. 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 report on Friday, February 21st.

Institutional Investors Weigh In On BlueLinx

Several institutional investors have recently bought and sold shares of BXC. Mackenzie Financial Corp lifted its position in shares of BlueLinx by 146.0% during the fourth quarter. Mackenzie Financial Corp now owns 5,593 shares of the construction company’s stock worth $571,000 after purchasing an additional 3,319 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in BlueLinx by 33.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock worth $51,000 after purchasing an additional 127 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in BlueLinx by 31.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,705 shares of the construction company’s stock valued at $1,911,000 after acquiring an additional 4,525 shares during the period. Towle & Co. increased its holdings in shares of BlueLinx by 7.2% during the fourth quarter. Towle & Co. now owns 120,972 shares of the construction company’s stock valued at $12,358,000 after purchasing an additional 8,123 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of BlueLinx in the 4th quarter worth approximately $235,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

BlueLinx Stock Performance

Shares of BXC stock opened at $81.27 on Friday. The stock’s 50-day moving average is $101.70 and its two-hundred day moving average is $107.02. The firm has a market cap of $674.13 million, a price-to-earnings ratio of 13.24 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. BlueLinx has a 1 year low of $79.42 and a 1 year high of $134.79.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.