Craig Hallum Cuts BlueLinx (NYSE:BXC) Price Target to $125.00

BlueLinx (NYSE:BXC) had its target price lowered by Craig Hallum from $130.00 to $125.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Craig Hallum’s price objective suggests a potential upside of 22.24% from the company’s previous close.

BXC has been the topic of a number of other reports. Benchmark cut their price target on BlueLinx from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a research report on Thursday, February 22nd.

BlueLinx Trading Up 1.7 %

Shares of BlueLinx stock traded up $1.67 on Thursday, hitting $102.26. The stock had a trading volume of 70,745 shares, compared to its average volume of 74,950. The stock has a 50 day moving average of $120.28 and a 200 day moving average of $106.49. BlueLinx has a twelve month low of $67.57 and a twelve month high of $132.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.55 and a current ratio of 5.13. The firm has a market capitalization of $884.55 million, a P/E ratio of 18.89 and a beta of 1.96.

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. BlueLinx had a return on equity of 14.24% and a net margin of 1.57%. The company had revenue of $712.53 million during the quarter.

Insider Activity at BlueLinx

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

Institutional Trading of BlueLinx

A number of hedge funds and other institutional investors have recently bought and sold shares of BXC. DekaBank Deutsche Girozentrale bought a new stake in BlueLinx during the 3rd quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC boosted its holdings in BlueLinx by 305.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after acquiring an additional 425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 230 shares during the period. Raymond James & Associates purchased a new position in BlueLinx during the 3rd quarter valued at $205,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BlueLinx during the 4th quarter valued at $205,000. Hedge funds and other institutional investors 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.