BlueLinx (NYSE:BXC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BlueLinx (NYSE:BXC) from a sell rating to a hold rating in a research report released on Saturday.

Other analysts have also issued research reports about the stock. Benchmark decreased their price target on shares of BlueLinx from $83.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d)” rating on shares of BlueLinx in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.50.

BlueLinx Stock Performance

Shares of BXC stock opened at $56.89 on Friday. The firm has a market capitalization of $447.73 million, a PE ratio of -5,689,100.00 and a beta of 1.70. The firm has a fifty day simple moving average of $57.54 and a two-hundred day simple moving average of $63.49. The company has a current ratio of 4.66, a quick ratio of 3.12 and a debt-to-equity ratio of 0.96. BlueLinx has a 12 month low of $44.78 and a 12 month high of $88.30.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 24th. The construction company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). The business had revenue of $715.80 million for the quarter, compared to the consensus estimate of $703.84 million. BlueLinx had a net margin of 0.01% and a negative return on equity of 0.23%.

Institutional Trading of BlueLinx

Several institutional investors have recently made changes to their positions in BXC. Versant Capital Management Inc grew its stake in shares of BlueLinx by 86.2% in the 3rd quarter. Versant Capital Management Inc now owns 350 shares of the construction company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of BlueLinx in the 3rd quarter worth $29,000. Summit Securities Group LLC bought a new stake in shares of BlueLinx in the 4th quarter worth $31,000. Rock Creek Group LP bought a new stake in shares of BlueLinx in the 3rd quarter worth $37,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of BlueLinx by 114.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company’s stock worth $59,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.