BlueLinx (NYSE:BXC) PT Lowered to $125.00

BlueLinx (NYSE:BXC) had its target price reduced by investment analysts at Craig Hallum from $130.00 to $125.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price would suggest a potential upside of 21.90% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Benchmark decreased their target price on shares of BlueLinx from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. TheStreet cut shares of BlueLinx from a “b” rating to a “c” rating in a report on Thursday, February 22nd.

BlueLinx Price Performance

Shares of NYSE BXC traded up $0.09 during midday trading on Thursday, reaching $102.54. The company’s stock had a trading volume of 102,327 shares, compared to its average volume of 80,860. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.55 and a current ratio of 4.71. The company has a market cap of $888.00 million, a P/E ratio of 19.24 and a beta of 1.96. The business’s 50 day moving average price is $120.02 and its two-hundred day moving average price is $106.46. BlueLinx has a fifty-two week low of $67.76 and a fifty-two week high of $132.67.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $2.64 earnings per share 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%.

Insider Transactions at BlueLinx

In related news, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $119.09, for a total value of $37,394.26. Following the completion of the transaction, the director now owns 38,828 shares in the company, valued at approximately $4,624,026.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Mitchell B. Lewis sold 314 shares of the stock in a transaction 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 directly owns 38,828 shares in the company, valued at $4,624,026.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell B. Lewis sold 2,904 shares of BlueLinx stock in a transaction dated 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 in the company, valued at $326,848.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,570 shares of company stock worth $1,000,196. Insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On BlueLinx

A number of institutional investors have recently modified their holdings of BXC. Raymond James & Associates bought a new position in BlueLinx during the third quarter worth $205,000. Stratos Wealth Partners LTD. bought a new stake in shares of BlueLinx during the 3rd quarter valued at about $295,000. Bank of New York Mellon Corp boosted its position in shares of BlueLinx by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 78,181 shares of the construction company’s stock valued at $6,418,000 after purchasing an additional 630 shares in the last quarter. Principal Financial Group Inc. increased its holdings in BlueLinx by 51.1% in the third quarter. Principal Financial Group Inc. now owns 5,240 shares of the construction company’s stock worth $430,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Privium Fund Management UK Ltd lifted its stake in BlueLinx by 24.6% in the third quarter. Privium Fund Management UK Ltd now owns 3,708 shares of the construction company’s stock valued at $311,000 after buying an additional 732 shares during the period. 90.83% of the stock is owned by institutional investors.

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.