BlueLinx Holdings Inc. (NYSE:BXC) Stock Has Consensus Target Price of $83.50 According to Brokerages

Shares of BlueLinx Holdings Inc. (NYSE:BXC) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $83.50.

A number of equities analysts have recently weighed in on BXC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BlueLinx in a research report on Monday, August 17th. Citigroup assumed coverage on shares of BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating for the company. Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a report on Saturday. Benchmark upped their price objective 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, Citizens Jmp initiated coverage on shares of BlueLinx in a research note on Thursday, September 24th. They issued a “market perform” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new position in BlueLinx in the 2nd quarter worth approximately $364,000. SummerHaven Investment Management LLC purchased a new stake in BlueLinx in the third quarter worth about $595,000. Squarepoint Ops LLC boosted its holdings in shares of 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 worth about $689,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of BlueLinx in the 2nd quarter worth approximately $788,000. Hedge funds and other institutional investors own 90.83% of the company’s stock.

BlueLinx Stock Performance

BXC opened at $76.81 on Monday. The company has a current ratio of 4.01, a quick ratio of 2.59 and a debt-to-equity ratio of 0.95. BlueLinx has a 12-month low of $44.78 and a 12-month high of $93.80. The company’s 50 day moving average is $77.16 and its 200 day moving average is $64.50. The company has a market cap of $603.70 million, a price-to-earnings ratio of -307.21 and a beta of 1.43.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, August 4th. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.85. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The firm had revenue of $814.08 million during the quarter, compared to analyst estimates of $793.72 million.

About BlueLinx

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.