BlueLinx (NYSE:BXC) Upgraded by StockNews.com to Buy

by · The Cerbat Gem

StockNews.com upgraded shares of BlueLinx (NYSE:BXC – Free Report) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research firms have also weighed in on BXC. Craig Hallum increased their price objective on BlueLinx from $125.00 to $135.00 and gave the company a buy rating in a research note on Thursday, August 1st. DA Davidson upped their target price on shares of BlueLinx from $121.00 to $137.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, BlueLinx presently has a consensus rating of Buy and an average price target of $135.67.

Get Our Latest Research Report on BlueLinx

BlueLinx Stock Up 0.7 %

BlueLinx stock opened at $110.04 on Friday. The firm’s fifty day moving average is $101.01 and its 200 day moving average is $104.30. BlueLinx has a 12-month low of $67.76 and a 12-month high of $132.67. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $953.17 million, a PE ratio of 20.65 and a beta of 1.94.

BlueLinx (NYSE:BXC – Get Free Report) last posted its earnings results on Tuesday, July 30th. The construction company reported $1.53 EPS for the quarter. The company had revenue of $768.36 million during the quarter. BlueLinx had a net margin of 1.26% and a return on equity of 12.14%.

Institutional Investors Weigh In On BlueLinx

A number of large investors have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC increased its holdings in BlueLinx by 108.5% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 14,799 shares of the construction company’s stock worth $1,560,000 after acquiring an additional 7,701 shares in the last quarter. LongView Wealth Management lifted its position in BlueLinx by 31.9% during the third quarter. LongView Wealth Management now owns 6,453 shares of the construction company’s stock worth $680,000 after buying an additional 1,561 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of BlueLinx by 670.7% in the third quarter. SG Americas Securities LLC now owns 10,836 shares of the construction company’s stock valued at $1,142,000 after purchasing an additional 9,430 shares during the period. Algert Global LLC increased its holdings in shares of BlueLinx by 18.2% during the 2nd quarter. Algert Global LLC now owns 37,114 shares of the construction company’s stock worth $3,455,000 after buying an additional 5,717 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of BlueLinx in the 2nd quarter valued at $723,000. 90.83% of the stock is owned by hedge funds and other institutional investors.

About BlueLinx

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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.

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