Loop Capital Lowers BlueLinx (NYSE:BXC) Price Target to $120.00

BlueLinx (NYSE:BXC) had its price objective cut by investment analysts at Loop Capital from $135.00 to $120.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective suggests a potential upside of 45.64% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Benchmark decreased their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, DA Davidson reduced their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

BlueLinx Stock Down 8.7 %

Shares of BlueLinx stock opened at $82.40 on Friday. The stock has a market capitalization of $683.07 million, a P/E ratio of 13.42 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $104.09 and a two-hundred day moving average price of $107.39. BlueLinx has a 12-month low of $82.23 and a 12-month high of $134.79.

BlueLinx (NYSE:BXC) last announced 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 for the quarter, compared to the consensus estimate of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Institutional Investors Weigh In On BlueLinx

Several hedge funds have recently modified their holdings of BXC. Public Employees Retirement System of Ohio boosted its position in shares of BlueLinx by 59.1% in the third quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock valued at $40,000 after acquiring an additional 140 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of BlueLinx in the fourth quarter valued at approximately $61,000. Quest Partners LLC boosted its position in shares of BlueLinx by 43.2% in the third quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock valued at $119,000 after acquiring an additional 342 shares during the period. Meeder Asset Management Inc. lifted its position in BlueLinx by 50.1% in the third quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after purchasing an additional 379 shares during the period. Finally, AlphaQuest LLC lifted its position in BlueLinx by 28.4% in the fourth quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after purchasing an additional 322 shares during the period. 90.83% of the stock is 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.