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 research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

BlueLinx Trading Down 2.2 %

NYSE:BXC opened at $89.96 on Thursday. The company’s 50 day moving average price is $105.45 and its 200-day moving average price is $107.64. BlueLinx has a 52 week low of $86.21 and a 52 week high of $134.79. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. The stock has a market cap of $753.82 million, a price-to-earnings ratio of 14.65 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 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a net margin of 1.80% and a return on equity of 7.48%. The firm had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in BlueLinx by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company’s stock valued at $59,216,000 after buying an additional 1,889 shares during the last quarter. American Century Companies Inc. raised its stake in BlueLinx by 8.4% during the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock valued at $31,830,000 after buying an additional 24,087 shares during the last quarter. Victory Capital Management Inc. increased its position in BlueLinx by 600.3% during the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after acquiring an additional 187,456 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $20,419,000 after acquiring an additional 32,693 shares during the period. Finally, State Street Corp lifted its holdings in BlueLinx by 0.6% in the third quarter. State Street Corp now owns 198,003 shares of the construction company’s stock valued at $20,873,000 after acquiring an additional 1,252 shares during the period. Institutional investors own 90.83% of the company’s stock.

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.