BlueLinx (NYSE:BXC) Stock Gets Downgrade from Wall Street Zen

BlueLinx (NYSE:BXC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Wall Street Zen reports.

Several other equities analysts have also commented on BXC. DA Davidson raised their price target on BlueLinx from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Citigroup began coverage on BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating for the company. Citizens Jmp initiated coverage on shares of BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating for the company. Benchmark increased their target price on shares of BlueLinx from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Zacks Research started coverage on shares of BlueLinx in a report on Monday, November 2nd. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.50.

BlueLinx Stock Down 2.3%

Shares of NYSE:BXC opened at $63.65 on Monday. BlueLinx has a 52-week low of $44.78 and a 52-week high of $93.80. The stock has a market cap of $500.25 million, a P/E ratio of -122.39 and a beta of 1.47. The business’s 50 day moving average is $74.67 and its 200 day moving average is $64.78. The company has a quick ratio of 2.51, a current ratio of 3.84 and a debt-to-equity ratio of 0.94.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, November 3rd. The construction company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $812.61 million for the quarter, compared to the consensus estimate of $814.17 million. BlueLinx had a positive return on equity of 0.42% and a negative net margin of 0.14%. Sell-side analysts predict that BlueLinx will post 0.97 EPS for the current year.

Institutional Trading of BlueLinx

Several hedge funds and other institutional investors have recently made changes to their positions in BXC. WINTON GROUP Ltd acquired a new stake in shares of BlueLinx in the 2nd quarter worth $364,000. SummerHaven Investment Management LLC acquired a new position in BlueLinx during the 3rd quarter valued at about $595,000. Squarepoint Ops LLC increased its position in BlueLinx by 8.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,617 shares of the construction company’s stock valued at $595,000 after buying an additional 734 shares in the last quarter. Fifth Third Bancorp purchased a new stake in BlueLinx in the first quarter valued at about $689,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in BlueLinx in the second quarter valued at about $788,000. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Holdings Inc. is a U.S. wholesale distributor of building products, serving dealers, home improvement retailers, manufactured housing producers, and other customers in the construction and building materials industries. The company distributes structural products such as lumber, plywood, oriented strand board, and engineered wood, as well as specialty products including siding, trim, insulation, roofing materials, and composite products. It also provides logistics and other distribution services to help customers source and transport building materials.