BlueLinx (NYSE:BXC) Price Target Lowered to $135.00 at Benchmark

BlueLinx (NYSE:BXC) had its target price reduced by Benchmark from $144.00 to $135.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, TheStreet downgraded BlueLinx from a b rating to a c rating in a report on Thursday, February 22nd.

BlueLinx Stock Performance

BlueLinx stock traded up $0.09 during midday trading on Thursday, reaching $102.54. 102,327 shares of the company traded hands, compared to its average volume of 80,860. BlueLinx has a 12 month low of $67.76 and a 12 month high of $132.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.71 and a quick ratio of 3.55. The business has a 50 day moving average of $120.02 and a two-hundred day moving average of $106.46. The firm has a market capitalization of $888.00 million, a price-to-earnings ratio of 19.24 and a beta of 1.96.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share for the quarter. The business had revenue of $712.53 million during the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.11%.

Insider Buying and Selling at BlueLinx

In other news, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction on Monday, March 11th. The shares were sold at an average price of $117.15, for a total transaction of $340,203.60. Following the transaction, the director now owns 2,790 shares in the company, valued at approximately $326,848.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mitchell B. Lewis sold 314 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,624,026.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mitchell B. Lewis sold 2,904 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total transaction of $340,203.60. Following the completion of the sale, the director now directly owns 2,790 shares of the company’s stock, valued at $326,848.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,570 shares of company stock valued at $1,000,196. Insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds have recently modified their holdings of BXC. GSA Capital Partners LLP bought a new stake in shares of BlueLinx during the 1st quarter valued at $1,501,000. Capstone Investment Advisors LLC bought a new stake in BlueLinx during the first quarter valued at about $218,000. Allspring Global Investments Holdings LLC lifted its position in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after acquiring an additional 425 shares in the last quarter. Hunter Perkins Capital Management LLC purchased a new position in shares of BlueLinx in the first quarter valued at about $804,000. Finally, BTC Capital Management Inc. bought a new position in shares of BlueLinx in the first quarter worth about $311,000. 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.