Loop Capital Issues Pessimistic Forecast for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC) had its target price lowered by equities researchers at Loop Capital from $135.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective points to a potential upside of 45.64% from the stock’s previous close.

Other analysts also recently issued research reports about the company. DA Davidson cut their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday. Benchmark dropped their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com downgraded BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Price Performance

NYSE BXC opened at $82.40 on Friday. The stock’s 50-day moving average price is $104.09 and its two-hundred day moving average price is $107.39. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The company has a market cap of $683.07 million, a PE ratio of 13.42 and a beta of 2.04. BlueLinx has a 1 year low of $82.23 and a 1 year high of $134.79.

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

Hedge Funds Weigh In On BlueLinx

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in BlueLinx by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company’s stock worth $474,000 after buying an additional 104 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in BlueLinx by 33.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock worth $51,000 after buying an additional 127 shares during the last quarter. FMR LLC increased its holdings in BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after buying an additional 147 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in BlueLinx by 2.1% in the third quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock worth $959,000 after buying an additional 190 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its holdings in BlueLinx by 4.0% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock worth $534,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.