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

BlueLinx (NYSE:BXC) had its price target cut by equities researchers at Benchmark from $144.00 to $135.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Benchmark’s price objective indicates a potential upside of 31.66% from the stock’s current price.

Separately, TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a research report on Thursday, February 22nd.

BlueLinx Stock Performance

NYSE BXC traded up $0.09 on Thursday, reaching $102.54. 102,327 shares of the company’s stock traded hands, compared to its average volume of 80,860. BlueLinx has a fifty-two week low of $67.76 and a fifty-two week high of $132.67. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.55 and a current ratio of 4.71. The firm has a market cap of $888.00 million, a price-to-earnings ratio of 19.24 and a beta of 1.96. The stock has a 50 day moving average price of $120.02 and a 200-day moving average price of $106.46.

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

Insiders Place Their Bets

In related news, Director Mitchell B. Lewis sold 314 shares of BlueLinx stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the transaction, the director now owns 38,828 shares in the company, valued at approximately $4,624,026.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mitchell B. Lewis sold 314 shares of the 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 transaction, the director now owns 38,828 shares in the company, valued at approximately $4,624,026.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell B. Lewis sold 5,352 shares of BlueLinx stock in a transaction on Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the sale, the director now directly owns 33,476 shares in the company, valued at approximately $3,894,263.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,570 shares of company stock worth $1,000,196. Company insiders own 3.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BXC. SummerHaven Investment Management LLC lifted its stake in BlueLinx by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,617 shares of the construction company’s stock worth $863,000 after purchasing an additional 102 shares in the last quarter. Raymond James & Associates boosted its holdings in BlueLinx by 4.6% during the 4th quarter. Raymond James & Associates now owns 2,616 shares of the construction company’s stock valued at $296,000 after acquiring an additional 116 shares during the period. Stratos Wealth Partners LTD. increased its stake in BlueLinx by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,751 shares of the construction company’s stock worth $425,000 after purchasing an additional 156 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of BlueLinx by 3.1% during the third quarter. Oliver Luxxe Assets LLC now owns 6,230 shares of the construction company’s stock worth $511,000 after purchasing an additional 186 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its stake in shares of BlueLinx by 2.8% in the third quarter. SkyView Investment Advisors LLC now owns 8,057 shares of the construction company’s stock valued at $661,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.