Loop Capital Has Lowered Expectations for BlueLinx (NYSE:BXC) Stock Price

BlueLinx (NYSE:BXC) had its price objective trimmed by Loop Capital from $120.00 to $115.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on BXC. Benchmark cut their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com lowered shares of BlueLinx from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, DA Davidson decreased their price target on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, BlueLinx currently has an average rating of “Moderate Buy” and an average target price of $122.25.

BlueLinx Price Performance

BXC stock opened at $70.09 on Monday. 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 company’s fifty day moving average price is $81.17 and its 200-day moving average price is $101.16. BlueLinx has a one year low of $67.42 and a one year high of $134.79. The company has a market capitalization of $581.40 million, a PE ratio of 11.42 and a beta of 1.82.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of BlueLinx by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock valued at $59,216,000 after acquiring an additional 1,889 shares during the period. American Century Companies Inc. raised its position in BlueLinx by 8.4% in the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after purchasing an additional 24,087 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in BlueLinx by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock worth $20,419,000 after purchasing an additional 32,693 shares during the last quarter. State Street Corp boosted its position in shares of BlueLinx by 0.6% during the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after buying an additional 1,252 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of BlueLinx by 3.6% during the first quarter. Harbor Capital Advisors Inc. now owns 143,552 shares of the construction company’s stock valued at $10,764,000 after buying an additional 5,000 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

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.