A number of other research analysts have also recently issued reports on the company. Craig Hallum boosted their target price 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 increased their target price on BlueLinx from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $135.67.
View Our Latest Research Report on BlueLinx
Shares of BXC traded up $2.69 during midday trading on Friday, reaching $106.16. 94,942 shares of the stock were exchanged, compared to its average volume of 84,236. The company has a market cap of $919.56 million, a price-to-earnings ratio of 19.92 and a beta of 1.94. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. BlueLinx has a 12-month low of $67.76 and a 12-month high of $132.67. The firm has a 50 day simple moving average of $101.59 and a 200-day simple moving average of $105.46.
BlueLinx (NYSE:BXC - Get Free Report) last issued its quarterly 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 return on equity of 12.14% and a net margin of 1.26%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of BlueLinx by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 4,380 shares of the construction company's stock worth $408,000 after purchasing an additional 129 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of BlueLinx by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 7,853 shares of the construction company's stock worth $731,000 after purchasing an additional 151 shares during the last quarter. nVerses Capital LLC increased its stake in BlueLinx by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in BlueLinx by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,722 shares of the construction company's stock valued at $876,000 after purchasing an additional 293 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of BlueLinx by 13.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,666 shares of the construction company's stock worth $302,000 after buying an additional 311 shares in the last quarter. Institutional investors own 90.83% of the company's stock.
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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