BlueLinx (NYSE:BXC) Given “Buy” Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of BlueLinx (NYSE:BXCFree Report) in a report issued on Wednesday, Benzinga reports. The firm currently has a $135.00 target price on the construction company’s stock.

A number of other research firms also recently commented on BXC. Craig Hallum reduced their target price on BlueLinx from $130.00 to $125.00 and set a buy rating for the company in a report on Thursday, May 2nd. TheStreet cut shares of BlueLinx from a b rating to a c rating in a research note on Thursday, February 22nd.

View Our Latest Report on BXC

BlueLinx Trading Up 1.8 %

NYSE BXC opened at $102.89 on Wednesday. BlueLinx has a one year low of $67.76 and a one year high of $132.67. The firm has a market cap of $891.03 million, a PE ratio of 19.30 and a beta of 1.96. The firm’s fifty day moving average is $111.93 and its two-hundred day moving average is $110.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 4.71.

BlueLinx (NYSE:BXCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter. The firm had revenue of $726.24 million during the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.11%.

Insider Activity at BlueLinx

In related news, Director Mitchell B. Lewis sold 314 shares of BlueLinx stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total transaction of $37,394.26. Following the completion of the transaction, the director now directly owns 38,828 shares of the company’s stock, valued at $4,624,026.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Mitchell B. Lewis sold 5,352 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the transaction, the director now directly owns 33,476 shares of the company’s stock, valued at approximately $3,894,263.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mitchell B. Lewis sold 314 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the sale, the director now directly owns 38,828 shares in the company, valued at approximately $4,624,026.52. The disclosure for this sale can be found here. Insiders sold 8,570 shares of company stock valued at $1,000,196 in the last ninety days. Corporate insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On BlueLinx

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in BlueLinx during the 3rd quarter worth about $11,025,000. Lord Abbett & CO. LLC acquired a new position in shares of BlueLinx in the first quarter valued at approximately $4,195,000. ABS Direct Equity Fund LLC purchased a new position in shares of BlueLinx during the fourth quarter valued at approximately $3,127,000. Empowered Funds LLC lifted its stake in shares of BlueLinx by 70.9% during the first quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock valued at $8,157,000 after buying an additional 25,972 shares during the period. Finally, AQR Capital Management LLC boosted its position in BlueLinx by 17.3% during the third quarter. AQR Capital Management LLC now owns 143,920 shares of the construction company’s stock worth $11,814,000 after acquiring an additional 21,262 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

About BlueLinx

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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.

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