BlueLinx (NYSE:BXC) Price Target Cut to $120.00 by Analysts at Benchmark

BlueLinx (NYSE:BXC) had its price objective trimmed by Benchmark from $135.00 to $120.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages have also recently commented on BXC. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday. DA Davidson dropped their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.50.

BlueLinx Stock Performance

Shares of BXC opened at $82.40 on Friday. BlueLinx has a 1 year low of $82.23 and a 1 year high of $134.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26. The stock’s fifty day moving average price is $104.81 and its two-hundred day moving average price is $107.52. The firm has a market cap of $683.48 million, a PE ratio of 13.42 and a beta of 2.04.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $710.64 million during the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Hedge Funds Weigh In On BlueLinx

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in BlueLinx by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock worth $59,216,000 after purchasing an additional 1,889 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of BlueLinx by 8.4% in the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after purchasing an additional 24,087 shares during the period. Victory Capital Management Inc. raised its position in shares of BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after buying an additional 187,456 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BlueLinx by 19.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock valued at $20,419,000 after buying an additional 32,693 shares during the period. Finally, State Street Corp boosted its stake in BlueLinx by 0.6% during the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after buying an additional 1,252 shares during the period. 90.83% of the stock is currently owned by institutional investors.

About BlueLinx

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.