BlueLinx (NYSE:BXC) Price Target Cut to $125.00

BlueLinx (NYSE:BXC) had its price target lowered by Craig Hallum from $130.00 to $125.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently weighed in on the company. Benchmark decreased their price objective on BlueLinx from $144.00 to $135.00 and set a buy rating on the stock in a report on Thursday. TheStreet cut BlueLinx from a b rating to a c rating in a report on Thursday, February 22nd.

BlueLinx Stock Performance

Shares of BXC opened at $102.54 on Thursday. The company has a market cap of $888.20 million, a PE ratio of 19.24 and a beta of 1.96. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $119.70 and a 200-day moving average price of $107.11. BlueLinx has a 12-month low of $67.76 and a 12-month high of $132.67.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. The firm had revenue of $712.53 million during the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%.

Insiders Place Their Bets

In other BlueLinx news, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total value of $340,203.60. Following the transaction, the director now directly owns 2,790 shares of the company’s stock, valued at approximately $326,848.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlueLinx news, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total value of $340,203.60. Following the transaction, the director now directly owns 2,790 shares of the company’s stock, valued at approximately $326,848.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell B. Lewis sold 314 shares of BlueLinx stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the sale, the director now owns 38,828 shares in the company, valued at $4,624,026.52. The disclosure for this sale can be found here. Insiders have sold 8,570 shares of company stock valued at $1,000,196 in the last ninety days. Company insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On BlueLinx

A number of large investors have recently made changes to their positions in BXC. DekaBank Deutsche Girozentrale bought a new stake in shares of BlueLinx in the 3rd quarter worth approximately $47,000. Allspring Global Investments Holdings LLC boosted its position in shares of BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after purchasing an additional 425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BlueLinx by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock valued at $160,000 after purchasing an additional 230 shares in the last quarter. Raymond James & Associates bought a new stake in shares of BlueLinx during the third quarter valued at approximately $205,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of BlueLinx during the fourth quarter valued at approximately $205,000. 90.83% of the stock is currently owned by institutional investors.

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.