DA Davidson Cuts BlueLinx (NYSE:BXC) Price Target to $119.00

BlueLinx (NYSE:BXC) had its target price lowered by DA Davidson from $137.00 to $119.00 in a report released on Thursday morning,Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock.

BlueLinx Price Performance

NYSE BXC opened at $82.40 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm’s 50 day moving average price is $104.09 and its 200-day moving average price is $107.39. BlueLinx has a 52-week low of $82.23 and a 52-week high of $134.79. The company has a market cap of $683.07 million, a PE ratio of 13.42 and a beta of 2.04.

BlueLinx (NYSE:BXC) last posted its quarterly 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). BlueLinx had a return on equity of 7.50% and a net margin of 1.80%. The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $700.66 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in shares of BlueLinx by 59.1% during the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after purchasing an additional 140 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in BlueLinx during the fourth quarter valued at $61,000. Quest Partners LLC grew its position in BlueLinx by 43.2% during the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after buying an additional 342 shares during the period. Meeder Asset Management Inc. grew its position in BlueLinx by 50.1% during the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock valued at $120,000 after buying an additional 379 shares during the period. Finally, AlphaQuest LLC grew its position in BlueLinx by 28.4% during the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock valued at $149,000 after buying an additional 322 shares during the period. Hedge funds and other institutional investors own 90.83% of the company’s stock.

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.