Benchmark Has Lowered Expectations for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC) had its target price dropped by research analysts at Benchmark from $83.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Benchmark’s target price points to a potential upside of 14.66% from the stock’s current price.

BXC has been the subject of several other research reports. DA Davidson set a $68.00 target price on shares of BlueLinx in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BlueLinx has an average rating of “Hold” and an average target price of $86.00.

BlueLinx Stock Performance

NYSE BXC traded down $2.66 on Friday, hitting $65.41. 28,788 shares of the stock were exchanged, compared to its average volume of 92,024. The company has a market capitalization of $514.78 million, a PE ratio of -6,541,000.00 and a beta of 1.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.66 and a quick ratio of 3.15. The business’s fifty day moving average is $70.32 and its 200 day moving average is $70.44. BlueLinx has a 52 week low of $52.71 and a 52 week high of $88.30.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, February 24th. The construction company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%. The business had revenue of $715.80 million during the quarter, compared to the consensus estimate of $703.84 million.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Medina Value Partners LLC acquired a new stake in shares of BlueLinx in the 3rd quarter valued at $21,069,000. Catawba River Capital bought a new position in BlueLinx in the third quarter valued at about $7,431,000. Towle & Co. grew its position in BlueLinx by 113.8% in the fourth quarter. Towle & Co. now owns 167,196 shares of the construction company’s stock valued at $10,271,000 after acquiring an additional 89,010 shares during the last quarter. Gendell Jeffrey L raised its stake in BlueLinx by 16.8% during the second quarter. Gendell Jeffrey L now owns 563,730 shares of the construction company’s stock worth $41,930,000 after acquiring an additional 80,903 shares in the last quarter. Finally, Heartland Advisors Inc. bought a new position in shares of BlueLinx in the third quarter worth about $5,481,000. 90.83% of the stock is owned by institutional investors.

About BlueLinx

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.