BlueLinx (NYSE:BXC) PT Lowered to $135.00

BlueLinx (NYSE:BXC) had its price target lowered by analysts at Benchmark from $144.00 to $135.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Benchmark’s price target points to a potential upside of 35.04% from the stock’s previous close.

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

BlueLinx Trading Down 0.6 %

Shares of BXC stock traded down $0.62 on Thursday, reaching $99.97. 53,281 shares of the stock were exchanged, compared to its average volume of 74,783. BlueLinx has a 1-year low of $67.57 and a 1-year high of $132.67. The stock has a market cap of $864.74 million, a P/E ratio of 18.69 and a beta of 1.96. The company has a quick ratio of 3.55, a current ratio of 5.13 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $120.28 and a two-hundred day moving average of $106.49.

BlueLinx (NYSE:BXC) last released its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. The company had revenue of $712.53 million during the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.24%.

Insider Activity

In other news, Director Mitchell B. Lewis sold 2,904 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $117.15, for a total transaction of $340,203.60. Following the transaction, the director now directly owns 2,790 shares in the company, valued at approximately $326,848.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mitchell B. Lewis sold 2,904 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total value of $340,203.60. Following the transaction, the director now owns 2,790 shares in the company, valued at $326,848.50. The transaction was disclosed in a 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 that occurred 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 owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,570 shares of company stock valued at $1,000,196. Company insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On BlueLinx

Hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new position in BlueLinx in the 3rd quarter worth $47,000. Allspring Global Investments Holdings LLC grew its stake in BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after buying an additional 425 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BlueLinx by 19.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock valued at $160,000 after purchasing an additional 230 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of BlueLinx in the third quarter valued at $205,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of BlueLinx in the fourth quarter worth about $205,000. 90.83% of the stock is owned by institutional investors and hedge funds.

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.