Bailard Inc. Purchases Shares of 2,400 BlueLinx Holdings Inc. (NYSE:BXC)

Bailard Inc. acquired a new position in shares of BlueLinx Holdings Inc. (NYSE:BXC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,400 shares of the construction company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vestcor Inc boosted its stake in BlueLinx by 1,797.6% in the 3rd quarter. Vestcor Inc now owns 12,714 shares of the construction company’s stock worth $1,340,000 after buying an additional 12,044 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after acquiring an additional 187,456 shares during the period. JPMorgan Chase & Co. boosted its position in shares of BlueLinx by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 92,144 shares of the construction company’s stock worth $9,714,000 after acquiring an additional 4,363 shares during the last quarter. State Street Corp grew its holdings in BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after purchasing an additional 1,252 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in BlueLinx by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock worth $17,624,000 after purchasing an additional 36,968 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BXC shares. StockNews.com cut shares of BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital dropped their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Benchmark cut their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, DA Davidson decreased their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

BlueLinx Stock Up 2.7 %

Shares of BlueLinx stock opened at $76.77 on Thursday. BlueLinx Holdings Inc. has a twelve month low of $73.01 and a twelve month high of $134.79. The stock has a market cap of $636.77 million, a price-to-earnings ratio of 12.50 and a beta of 2.18. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average price of $99.34 and a 200 day moving average price of $106.58.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.