BlueLinx (NYSE:BXC) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of BlueLinx (NYSE:BXCGet Rating) from a hold rating to a buy rating in a report published on Friday.

BXC has been the subject of several other research reports. TheStreet upgraded shares of BlueLinx from a c rating to a b- rating in a research note on Wednesday, May 4th. Craig Hallum reduced their price objective on shares of BlueLinx from $138.00 to $127.00 in a research note on Thursday. Finally, Seaport Res Ptn reiterated a buy rating on shares of BlueLinx in a research note on Monday, July 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, BlueLinx currently has a consensus rating of Buy and an average price target of $107.25.

BlueLinx Trading Down 1.6 %

Shares of BXC stock opened at $77.68 on Friday. The company has a 50 day moving average of $74.14 and a 200-day moving average of $77.29. The company has a quick ratio of 1.80, a current ratio of 3.73 and a debt-to-equity ratio of 1.11. BlueLinx has a 12-month low of $45.86 and a 12-month high of $100.01. The firm has a market cap of $750.39 million, a P/E ratio of 2.37 and a beta of 1.84.

BlueLinx (NYSE:BXCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The construction company reported $7.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.64 by ($0.16). BlueLinx had a return on equity of 79.52% and a net margin of 7.26%. During the same quarter in the previous year, the business posted $11.61 EPS. Sell-side analysts anticipate that BlueLinx will post 26.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in BlueLinx by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 540,929 shares of the construction company’s stock valued at $38,883,000 after purchasing an additional 38,787 shares during the period. State Street Corp boosted its holdings in BlueLinx by 8.4% in the 1st quarter. State Street Corp now owns 170,117 shares of the construction company’s stock valued at $12,228,000 after purchasing an additional 13,165 shares during the period. Dimensional Fund Advisors LP boosted its holdings in BlueLinx by 75.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 123,637 shares of the construction company’s stock valued at $8,888,000 after purchasing an additional 53,217 shares during the period. Rock Creek Group LP boosted its holdings in BlueLinx by 20.0% in the 1st quarter. Rock Creek Group LP now owns 120,000 shares of the construction company’s stock valued at $8,626,000 after purchasing an additional 20,000 shares during the period. Finally, Artemis Investment Management LLP boosted its holdings in BlueLinx by 22.1% in the 2nd quarter. Artemis Investment Management LLP now owns 74,106 shares of the construction company’s stock valued at $4,963,000 after purchasing an additional 13,392 shares during the period. 81.13% of the stock is owned by institutional investors.

About BlueLinx

(Get Rating)

BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, industrial products, cedar, moulding, siding, metal, and insulation products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, spruce, and other wood products primarily that are used for structural support in construction projects.

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