BlueLinx (NYSE:BXC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of BlueLinx (NYSE:BXC) from a hold rating to a buy rating in a research report released on Saturday morning.

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

BlueLinx Stock Down 0.8 %

BXC stock opened at $108.96 on Friday. The firm has a market cap of $943.81 million, a PE ratio of 20.44 and a beta of 1.94. BlueLinx has a 12 month low of $67.76 and a 12 month high of $132.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.88 and a quick ratio of 3.37. The firm has a 50 day simple moving average of $101.22 and a 200 day simple moving average of $104.15.

BlueLinx (NYSE:BXC) last announced its quarterly earnings data 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%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. nVerses Capital LLC grew its stake in BlueLinx by 200.0% during the 2nd quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Innealta Capital LLC acquired a new position in BlueLinx in the 2nd quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC lifted its position in BlueLinx by 305.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after buying an additional 425 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of BlueLinx during the 2nd quarter valued at $70,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of BlueLinx during the 1st quarter valued at $218,000. 90.83% of the stock is owned by institutional investors and hedge funds.

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.