Loop Capital Issues Pessimistic Forecast for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC - Free Report) had its price target trimmed by Loop Capital from $120.00 to $115.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the construction company's stock.

Several other equities analysts have also issued reports on BXC. StockNews.com lowered BlueLinx from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Benchmark cut their target price on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, DA Davidson decreased 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, BlueLinx presently has an average rating of "Moderate Buy" and an average price target of $122.25.

BlueLinx Stock Performance

NYSE:BXC traded up $1.62 during mid-day trading on Monday, hitting $71.70. 96,788 shares of the company's stock traded hands, compared to its average volume of 80,138. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $79.88 and a two-hundred day moving average of $100.69. The firm has a market capitalization of $586.58 million, a price-to-earnings ratio of 11.68 and a beta of 1.82. BlueLinx has a 12 month low of $67.42 and a 12 month high of $134.79.

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

Institutional Trading of BlueLinx

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of BlueLinx by 59.1% in the 3rd 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 last quarter. PNC Financial Services Group Inc. bought a new stake in BlueLinx during the fourth quarter worth about $61,000. AlphaQuest LLC increased its holdings 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 buying an additional 322 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of BlueLinx by 352.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock valued at $150,000 after acquiring an additional 1,144 shares during the last quarter. Finally, FMR LLC grew its position in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company's stock worth $163,000 after acquiring an additional 147 shares during the last quarter. 90.83% of the stock is currently owned by 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.