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 note issued to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued reports about the company. DA Davidson upped their price objective on BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Citizens Jmp began coverage on shares of BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating for the company. Citigroup started coverage on shares of BlueLinx in a research report on Thursday, September 24th. They issued a “market perform” rating on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research note on Monday, August 17th. Finally, Benchmark increased their price objective on shares of BlueLinx from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.50.

BlueLinx Price Performance

NYSE:BXC opened at $75.49 on Friday. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $593.36 million, a P/E ratio of 697.73 and a beta of 1.43. BlueLinx has a 12 month low of $44.78 and a 12 month high of $93.80. The business’s 50-day moving average is $77.25 and its 200 day moving average is $64.81.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $1.15 EPS for the quarter, beating 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 company had revenue of $814.08 million during the quarter, compared to analyst estimates of $793.72 million.

Institutional Investors Weigh In On BlueLinx

Several large investors have recently added to or reduced their stakes in BXC. WINTON GROUP Ltd bought a new stake in shares of BlueLinx in the 2nd quarter valued at approximately $364,000. SummerHaven Investment Management LLC purchased a new stake in BlueLinx during the 3rd quarter valued at $595,000. Squarepoint Ops LLC lifted its position in BlueLinx by 8.3% in the second quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock worth $595,000 after buying an additional 734 shares during the last quarter. Fifth Third Bancorp bought a new stake in BlueLinx in the first quarter worth $689,000. Finally, Public Employees Retirement System of Ohio bought a new stake in BlueLinx in the second quarter worth $788,000. 90.83% of the stock is owned by institutional investors.

BlueLinx Company Profile

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.