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

BlueLinx (NYSE:BXC - Free Report) had its target price reduced by Benchmark from $135.00 to $120.00 in a report issued on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the construction company's stock.

Several other equities research analysts have also issued reports on the stock. DA Davidson lowered their price target on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. StockNews.com downgraded BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Stock Up 2.4 %

Shares of NYSE:BXC traded up $2.00 during mid-day trading on Friday, reaching $84.00. 123,771 shares of the stock were exchanged, compared to its average volume of 69,935. The stock's 50 day simple moving average is $103.37 and its 200-day simple moving average is $107.44. BlueLinx has a one year low of $80.30 and a one year high of $134.79. The company has a market cap of $696.78 million, a P/E ratio of 13.68 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89.

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BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The business had revenue of $710.64 million for the quarter, compared to the consensus estimate of $700.66 million.

Institutional Trading of BlueLinx

A number of large investors have recently added to or reduced their stakes in BXC. Victory Capital Management Inc. raised its holdings in shares of BlueLinx by 600.3% in the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company's stock valued at $23,054,000 after purchasing an additional 187,456 shares during the period. Harbor Capital Advisors Inc. raised its stake in BlueLinx by 151.6% in the third quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company's stock valued at $14,463,000 after buying an additional 82,657 shares during the period. River Road Asset Management LLC acquired a new stake in shares of BlueLinx in the fourth quarter valued at approximately $7,541,000. Charles Schwab Investment Management Inc. boosted its stake in shares of BlueLinx by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company's stock worth $17,624,000 after acquiring an additional 36,968 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of BlueLinx during the 4th quarter worth approximately $3,451,000. Institutional investors and hedge funds own 90.83% of the company's stock.

About BlueLinx

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.