Benchmark Has Lowered Expectations for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC) had its price objective dropped by stock analysts at Benchmark from $135.00 to $120.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Benchmark’s price objective would indicate a potential upside of 42.41% from the stock’s current price.

BXC has been the subject of several other reports. StockNews.com downgraded shares of BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday. DA Davidson cut their price target on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BlueLinx presently has an average rating of “Moderate Buy” and a consensus target price of $124.67.

BlueLinx Price Performance

Shares of BlueLinx stock traded down $5.98 during trading on Friday, hitting $84.27. 23,582 shares of the company’s stock traded hands, compared to its average volume of 63,283. 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 firm’s fifty day moving average price is $104.81 and its 200 day moving average price is $107.52. BlueLinx has a twelve month low of $84.69 and a twelve month high of $134.79. The company has a market cap of $698.98 million, a PE ratio of 13.73 and a beta of 2.04.

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

Hedge Funds Weigh In On BlueLinx

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in shares of BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after acquiring an additional 140 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in BlueLinx in the fourth quarter valued at approximately $61,000. Quest Partners LLC lifted its holdings in BlueLinx by 43.2% in the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after buying an additional 342 shares during the period. Meeder Asset Management Inc. lifted its holdings in BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock valued at $120,000 after buying an additional 379 shares during the period. Finally, AlphaQuest LLC lifted its holdings in BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after buying an additional 322 shares during the period. 90.83% of the stock is owned by institutional investors.

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.