BlueLinx’s (BXC) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reiterated their neutral rating on shares of BlueLinx (NYSE:BXC) in a research note published on Wednesday,Benzinga reports. They currently have a $65.00 price objective on the construction company’s stock.

A number of other research analysts have also recently commented on BXC. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a research note on Wednesday, May 20th. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $70.00.

BlueLinx Stock Down 2.7%

Shares of BXC stock opened at $60.35 on Wednesday. BlueLinx has a one year low of $44.78 and a one year high of $87.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.90 and a quick ratio of 2.51. The stock has a fifty day moving average price of $54.25 and a 200 day moving average price of $59.70. The stock has a market cap of $469.49 million, a P/E ratio of -116.05 and a beta of 1.41.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.93. BlueLinx had a negative net margin of 0.14% and a negative return on equity of 0.30%. The company had revenue of $731.15 million during the quarter, compared to analysts’ expectations of $714.84 million.

Institutional Trading of BlueLinx

Several hedge funds have recently modified their holdings of the company. 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 acquiring an additional 32,943 shares in the last quarter. Quantinno Capital Management LP raised its position in BlueLinx by 124.7% in the 1st quarter. Quantinno Capital Management LP now owns 34,657 shares of the construction company’s stock valued at $1,878,000 after purchasing an additional 19,236 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in BlueLinx by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock valued at $17,439,000 after purchasing an additional 6,538 shares during the last quarter. Sei Investments Co. boosted its stake in BlueLinx by 92.1% in the first quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock worth $3,229,000 after purchasing an additional 28,571 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BlueLinx by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock worth $27,771,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors and hedge funds 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.