BlueLinx (NYSE:BXC) Price Target Cut to $125.00

BlueLinx (NYSE:BXC) had its price objective reduced by investment analysts at Craig Hallum from $130.00 to $125.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s price objective points to a potential upside of 21.90% from the stock’s current price.

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

BlueLinx Stock Up 0.1 %

NYSE BXC traded up $0.09 on Thursday, hitting $102.54. 102,327 shares of the stock traded hands, compared to its average volume of 80,860. The company has a market capitalization of $888.00 million, a P/E ratio of 19.24 and a beta of 1.96. The stock has a 50-day moving average of $120.02 and a 200 day moving average of $106.46. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.88. BlueLinx has a twelve month low of $67.76 and a twelve month 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 (EPS) for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The firm had revenue of $712.53 million for the quarter.

Insider Buying and Selling

In other BlueLinx news, Director Mitchell B. Lewis sold 5,352 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 33,476 shares of the company’s stock, valued at approximately $3,894,263.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mitchell B. Lewis sold 5,352 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $116.33, for a total transaction of $622,598.16. Following the completion of the transaction, 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 SEC, which is accessible through this link. Also, Director Mitchell B. Lewis sold 2,904 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $117.15, for a total value of $340,203.60. Following the completion of the transaction, the director now directly owns 2,790 shares of the company’s stock, valued at $326,848.50. The disclosure for this sale can be found here. Insiders have sold a total of 8,570 shares of company stock valued at $1,000,196 in the last quarter. Company insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently modified their holdings of BXC. DekaBank Deutsche Girozentrale bought a new stake in BlueLinx during the third quarter worth approximately $47,000. Allspring Global Investments Holdings LLC grew its holdings in BlueLinx by 305.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after acquiring an additional 425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BlueLinx by 19.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after acquiring an additional 230 shares in the last quarter. Raymond James & Associates acquired a new stake in BlueLinx in the 3rd quarter valued at about $205,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of BlueLinx during the 4th quarter valued at about $205,000. 90.83% of the stock is currently owned by institutional investors.

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.