BlueLinx (NYSE:BXC) Given New $135.00 Price Target at Benchmark

BlueLinx (NYSE:BXC) had its target price dropped by analysts at Benchmark from $144.00 to $135.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Benchmark’s price target suggests a potential upside of 35.04% from the company’s current price.

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

BlueLinx Stock Down 0.6 %

Shares of BXC traded down $0.62 during trading hours on Thursday, hitting $99.97. The company had a trading volume of 53,281 shares, compared to its average volume of 74,783. BlueLinx has a 52-week low of $67.57 and a 52-week high of $132.67. The firm has a fifty day moving average price of $120.28 and a 200-day moving average price of $106.49. The stock has a market capitalization of $864.74 million, a price-to-earnings ratio of 18.69 and a beta of 1.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.55 and a current ratio of 5.13.

BlueLinx (NYSE:BXC) last issued its earnings results on Tuesday, February 20th. The construction company reported $2.64 earnings per share (EPS) for the quarter. BlueLinx had a net margin of 1.57% and a return on equity of 14.24%. The business had revenue of $712.53 million during the quarter.

Insider Transactions at BlueLinx

In other BlueLinx news, Director Mitchell B. Lewis sold 314 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,624,026.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the director now owns 38,828 shares of the company’s stock, valued at $4,624,026.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mitchell B. Lewis sold 5,352 shares of the business’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 sale, the director now 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 sold 8,570 shares of company stock worth $1,000,196 over the last three months. 3.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlueLinx

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates purchased a new stake in shares of BlueLinx in the third quarter worth $205,000. Stratos Wealth Partners LTD. purchased a new stake in shares of BlueLinx during the 3rd quarter valued at about $295,000. Bank of New York Mellon Corp lifted its holdings in shares of BlueLinx by 0.8% in 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 acquiring an additional 630 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of BlueLinx by 51.1% in the 3rd 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 during the period. Finally, Privium Fund Management UK Ltd increased its position in shares of BlueLinx by 24.6% during the 3rd quarter. Privium Fund Management UK Ltd now owns 3,708 shares of the construction company’s stock valued at $311,000 after purchasing an additional 732 shares during the last quarter. 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.