BlueLinx (NYSE:BXC) Given New $119.00 Price Target at DA Davidson

BlueLinx (NYSE:BXC) had its price objective lowered by analysts at DA Davidson from $137.00 to $119.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s price target points to a potential upside of 33.65% from the stock’s previous close.

BlueLinx Trading Down 3.2 %

BXC traded down $2.97 during midday trading on Thursday, hitting $89.04. The company’s stock had a trading volume of 56,171 shares, compared to its average volume of 61,413. The firm has a market cap of $746.15 million, a P/E ratio of 14.51 and a beta of 2.04. BlueLinx has a 52-week low of $86.21 and a 52-week high of $134.79. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $105.45 and a two-hundred day moving average price of $107.64.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a net margin of 1.80% and a return on equity of 7.48%. The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million.

Institutional Investors Weigh In On BlueLinx

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after purchasing an additional 140 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in BlueLinx during the 4th quarter valued at $61,000. Quest Partners LLC grew its holdings in BlueLinx by 43.2% during the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after acquiring an additional 342 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of BlueLinx by 50.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after purchasing an additional 379 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in shares of BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after purchasing an additional 322 shares in the last quarter. 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.