Craig Hallum Cuts BlueLinx (NYSE:BXC) Price Target to $125.00

BlueLinx (NYSE:BXC) had its price target cut by investment analysts at Craig Hallum from $130.00 to $125.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s price target suggests a potential upside of 22.24% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Benchmark cut their target price on BlueLinx from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday. TheStreet lowered BlueLinx from a “b” rating to a “c” rating in a report on Thursday, February 22nd.

BlueLinx Stock Up 1.7 %

BlueLinx stock traded up $1.67 during midday trading on Thursday, reaching $102.26. The company’s stock had a trading volume of 70,745 shares, compared to its average volume of 74,950. BlueLinx has a fifty-two week low of $67.57 and a fifty-two week high of $132.67. The company has a quick ratio of 3.55, a current ratio of 5.13 and a debt-to-equity ratio of 0.90. The company has a market cap of $884.55 million, a P/E ratio of 18.89 and a beta of 1.96. The business has a 50-day simple moving average of $120.28 and a 200-day simple moving average of $106.49.

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

Insider Buying and Selling at BlueLinx

In other BlueLinx news, Director Mitchell B. Lewis sold 314 shares of BlueLinx stock in a transaction that occurred 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 sale, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlueLinx news, Director Mitchell B. Lewis sold 314 shares of BlueLinx stock in a transaction that occurred 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 sale, the director now owns 38,828 shares of the company’s stock, valued at approximately $4,624,026.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $622,598.16. Following the sale, the director now directly owns 33,476 shares in the company, valued at approximately $3,894,263.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,570 shares of company stock valued at $1,000,196. 3.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlueLinx

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in BlueLinx in the 3rd quarter valued at $11,025,000. State Board of Administration of Florida Retirement System raised its holdings in BlueLinx by 482.5% in 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 during the last quarter. American Century Companies Inc. raised its holdings in BlueLinx by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 167,873 shares of the construction company’s stock valued at $13,781,000 after acquiring an additional 19,108 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 7,860 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in BlueLinx by 32.9% in the 3rd quarter. WINTON GROUP Ltd now owns 5,171 shares of the construction company’s stock valued at $424,000 after acquiring an additional 1,280 shares during the last quarter. Hedge funds and other institutional investors 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.