Benchmark Lowers BlueLinx (NYSE:BXC) Price Target to $135.00

BlueLinx (NYSE:BXC) had its price objective reduced by Benchmark from $144.00 to $135.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Separately, TheStreet downgraded BlueLinx from a b rating to a c rating in a research note on Thursday, February 22nd.

BlueLinx Price Performance

BlueLinx stock traded up $0.09 during trading hours on Thursday, hitting $102.54. 102,327 shares of the company traded hands, compared to its average volume of 80,860. BlueLinx has a 1-year low of $67.76 and a 1-year high of $132.67. The firm has a market cap of $888.00 million, a P/E ratio of 19.24 and a beta of 1.96. The firm’s 50-day simple moving average is $119.70 and its two-hundred day simple moving average is $106.88. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.88.

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

Insider Buying and Selling

In related news, Director Mitchell B. Lewis sold 5,352 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the sale, the director now directly owns 33,476 shares in the company, valued at $3,894,263.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mitchell B. Lewis sold 314 shares of BlueLinx 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 transaction, the director now directly owns 38,828 shares in the company, valued at approximately $4,624,026.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell B. Lewis sold 5,352 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $116.33, for a total value of $622,598.16. Following the sale, the director now directly owns 33,476 shares of the company’s stock, valued at $3,894,263.08. The disclosure for this sale can be found here. Insiders have sold 8,570 shares of company stock worth $1,000,196 in the last ninety days. 3.38% of the stock is currently owned by corporate insiders.

Institutional Trading of BlueLinx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in shares of BlueLinx in the third quarter valued at $11,025,000. State Board of Administration of Florida Retirement System grew its stake in BlueLinx by 482.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 14,482 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 11,996 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of BlueLinx by 12.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,633 shares of the construction company’s stock valued at $5,634,000 after purchasing an additional 7,860 shares during the period. American Century Companies Inc. lifted its position in shares of BlueLinx by 12.8% in the third quarter. American Century Companies Inc. now owns 167,873 shares of the construction company’s stock worth $13,781,000 after purchasing an additional 19,108 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of BlueLinx by 32.9% in the third quarter. WINTON GROUP Ltd now owns 5,171 shares of the construction company’s stock worth $424,000 after purchasing an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.