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

BlueLinx (NYSE:BXC) had its price objective cut by research analysts at Benchmark from $135.00 to $120.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Benchmark’s target price would indicate a potential upside of 45.64% from the stock’s current price.

A number of other brokerages also recently commented on BXC. DA Davidson cut their price objective on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

BlueLinx Stock Down 8.7 %

BXC stock opened at $82.40 on Friday. The company has a fifty day moving average price of $104.09 and a 200 day moving average price of $107.39. BlueLinx has a 12 month low of $82.23 and a 12 month high of $134.79. The company has a market cap of $683.07 million, a price-to-earnings ratio of 13.42 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

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

Institutional Investors Weigh In On BlueLinx

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its position 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 stake in shares of BlueLinx in the fourth quarter worth approximately $61,000. Quest Partners LLC boosted its position in shares of BlueLinx by 43.2% in the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after acquiring an additional 342 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after acquiring an additional 379 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after acquiring an additional 322 shares during 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.