BlueLinx (NYSE:BXC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BlueLinx (NYSE:BXC) from a hold rating to a buy rating in a research report released on Saturday morning.

Several other research firms have also recently issued reports on BXC. Benchmark increased their target price on BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a report on Wednesday, May 20th. Finally, DA Davidson boosted their price target on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.50.

BlueLinx Trading Up 1.4%

Shares of BlueLinx stock opened at $91.15 on Friday. The company has a market capitalization of $716.44 million, a P/E ratio of -364.59 and a beta of 1.45. 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 company has a fifty day moving average of $58.74 and a 200 day moving average of $59.14. BlueLinx has a fifty-two week low of $44.78 and a fifty-two week high of $91.85.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.85. BlueLinx had a positive return on equity of 0.13% and a negative net margin of 0.06%.The business had revenue of $814.08 million during the quarter, compared to analyst estimates of $793.72 million.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds have recently bought and sold shares of the business. Sei Investments Co. lifted its stake in shares of BlueLinx by 92.1% in the 1st quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock valued at $3,229,000 after purchasing an additional 28,571 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of BlueLinx by 42.7% in the 1st quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after purchasing an additional 32,943 shares during the period. Heartland Advisors Inc. increased its position in shares of BlueLinx by 22.8% during the 1st quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock valued at $4,989,000 after purchasing an additional 17,075 shares during the last quarter. Concentric Capital Strategies LP raised its holdings in BlueLinx by 115.0% during the 4th quarter. Concentric Capital Strategies LP now owns 67,696 shares of the construction company’s stock valued at $4,159,000 after buying an additional 36,212 shares during the period. Finally, River Road Asset Management LLC lifted its position in BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock worth $14,774,000 after buying an additional 21,640 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.