BlueLinx (NYSE:BXC) Price Target Increased to $135.00 by Analysts at Craig Hallum

BlueLinx (NYSE:BXC) had its price objective boosted by Craig Hallum from $125.00 to $135.00 in a research note issued to investors on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the construction company’s stock.

BXC has been the topic of a number of other research reports. Benchmark reissued a buy rating and set a $135.00 price objective on shares of BlueLinx in a research note on Wednesday, May 29th. DA Davidson upped their price objective on shares of BlueLinx from $121.00 to $137.00 and gave the company a buy rating in a report on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, BlueLinx has an average rating of Moderate Buy and a consensus price target of $135.67.

BlueLinx Price Performance

Shares of BXC traded down $6.33 during trading hours on Thursday, hitting $102.53. 47,959 shares of the stock were exchanged, compared to its average volume of 85,765. The stock’s 50-day moving average price is $101.81 and its two-hundred day moving average price is $110.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 4.71. The company has a market cap of $874.58 million, a price-to-earnings ratio of 20.42 and a beta of 1.90. BlueLinx has a 12-month low of $67.76 and a 12-month high of $132.67.

BlueLinx (NYSE:BXC) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter. The firm had revenue of $726.24 million for the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.20%.

Institutional Investors Weigh In On BlueLinx

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in BlueLinx by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock worth $62,828,000 after buying an additional 17,891 shares during the last quarter. Vanguard Group Inc. increased its stake in BlueLinx by 1.1% in the first quarter. Vanguard Group Inc. now owns 501,333 shares of the construction company’s stock valued at $65,294,000 after purchasing an additional 5,277 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of BlueLinx by 2.1% in the first quarter. Bridgeway Capital Management LLC now owns 145,687 shares of the construction company’s stock valued at $18,974,000 after buying an additional 2,975 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of BlueLinx by 4.3% during the fourth quarter. Wellington Management Group LLP now owns 140,142 shares of the construction company’s stock worth $15,879,000 after buying an additional 5,842 shares during the period. Finally, Mill Road Capital Management LLC increased its position in BlueLinx by 4.9% in the 4th quarter. Mill Road Capital Management LLC now owns 124,274 shares of the construction company’s stock valued at $14,081,000 after acquiring an additional 5,800 shares during the period. 90.83% of the stock is currently owned by institutional investors and hedge funds.

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.