BlueLinx’s (BXC) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson reissued their neutral rating on shares of BlueLinx (NYSE:BXC) in a report published on Wednesday,Benzinga reports. DA Davidson currently has a $65.00 target price on the construction company’s stock.

A number of other analysts also recently issued reports on BXC. Wall Street Zen upgraded BlueLinx from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of BlueLinx in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BlueLinx presently has an average rating of “Hold” and an average price target of $70.00.

BlueLinx Trading Up 5.2%

Shares of BXC stock opened at $58.67 on Wednesday. The company has a market cap of $456.57 million, a PE ratio of -112.83 and a beta of 1.41. BlueLinx has a 1 year low of $44.78 and a 1 year high of $87.88. The stock’s 50 day simple moving average is $53.91 and its two-hundred day simple moving average is $59.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.90 and a quick ratio of 2.51.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, May 5th. The construction company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.93. The firm had revenue of $731.15 million during the quarter, compared to analysts’ expectations of $714.84 million. BlueLinx had a negative return on equity of 0.30% and a negative net margin of 0.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BXC. Gendell Jeffrey L boosted its position in BlueLinx by 9.0% in the 4th quarter. Gendell Jeffrey L now owns 718,993 shares of the construction company’s stock valued at $44,168,000 after buying an additional 59,657 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of BlueLinx by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after acquiring an additional 2,008 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of BlueLinx by 2.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock valued at $17,439,000 after acquiring an additional 6,538 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BlueLinx by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,794 shares of the construction company’s stock valued at $18,723,000 after purchasing an additional 42,904 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in shares of BlueLinx by 9.9% in the fourth quarter. River Road Asset Management LLC now owns 240,500 shares of the construction company’s stock valued at $14,774,000 after purchasing an additional 21,640 shares during the period. 90.83% of the stock is currently owned by institutional investors.

BlueLinx Company Profile

BlueLinx Corporation is a leading distributor of building products in the United States, serving professional builders, contractors and industrial customers. The company offers a comprehensive portfolio that includes lumber, engineered wood products, plywood, oriented strand board, siding, railing, millwork and specialty construction materials. Through its nationwide network of distribution centers, BlueLinx provides inventory management, delivery and supply-chain solutions designed to help customers streamline operations and reduce carrying costs.

Founded in 2004 as a spin-off from Georgia-Pacific’s distribution business, BlueLinx has developed a broad product line that spans both residential and commercial construction markets.