BlueLinx (NYSE:BXC) Price Target Lowered to $120.00 at Loop Capital

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

BXC has been the topic of a number of other research reports. Benchmark dropped their price objective on BlueLinx from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Friday. StockNews.com lowered BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, DA Davidson decreased their price objective on BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Stock Up 2.4 %

NYSE BXC traded up $2.00 on Friday, hitting $84.00. 123,771 shares of the stock were exchanged, compared to its average volume of 69,935. BlueLinx has a fifty-two week low of $80.30 and a fifty-two week high of $134.79. The company has a 50-day moving average price of $103.37 and a 200-day moving average price of $107.44. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The company has a market cap of $696.78 million, a PE ratio of 13.68 and a beta of 2.04.

Remove Ads

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

Institutional Trading of BlueLinx

Several institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Public Employees Retirement System of Ohio lifted its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company's stock worth $40,000 after purchasing an additional 140 shares during the period. PNC Financial Services Group Inc. purchased a new position in BlueLinx during the 4th quarter worth $61,000. Quest Partners LLC lifted its stake in shares of BlueLinx by 43.2% in the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company's stock worth $119,000 after acquiring an additional 342 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company's stock valued at $120,000 after acquiring an additional 379 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in shares of BlueLinx by 28.4% during the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock worth $149,000 after acquiring an additional 322 shares during the period. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Company Profile

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.