BlueLinx Holdings Inc. (BXC) Rating Increased to Buy at ValuEngine

BlueLinx Holdings Inc. (NYSE:BXC) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Shares of BlueLinx Holdings (NYSE BXC) opened at 10.36 on Friday. BlueLinx Holdings has a 12 month low of $6.36 and a 12 month high of $11.78. The firm has a market capitalization of $94.26 million, a P/E ratio of 3.26 and a beta of 2.30. The firm’s 50-day moving average is $10.21 and its 200 day moving average is $9.75.

BlueLinx Holdings (NYSE:BXC) last released its earnings results on Thursday, August 10th. The construction company reported $0.35 earnings per share for the quarter. BlueLinx Holdings had a net margin of 1.62% and a negative return on equity of 22.97%. The firm had revenue of $474.00 million during the quarter. On average, equities research analysts anticipate that BlueLinx Holdings will post ($0.21) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in BXC. Spark Investment Management LLC grew its position in shares of BlueLinx Holdings by 38.7% during the 2nd quarter. Spark Investment Management LLC now owns 16,500 shares of the construction company’s stock valued at $180,000 after acquiring an additional 4,600 shares during the period. Algert Global LLC bought a new position in shares of BlueLinx Holdings during the 2nd quarter valued at approximately $364,000. Weber Alan W grew its position in shares of BlueLinx Holdings by 45.4% during the 2nd quarter. Weber Alan W now owns 84,779 shares of the construction company’s stock valued at $927,000 after acquiring an additional 26,480 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BlueLinx Holdings by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 124,984 shares of the construction company’s stock valued at $1,364,000 after acquiring an additional 11,898 shares during the period. Finally, Feinberg Stephen bought a new position in shares of BlueLinx Holdings during the 2nd quarter valued at approximately $51,569,000. 74.47% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Holdings Company Profile

BlueLinx Holdings, Inc is a distributor of building products in North America. The Company operates its distribution business through a network of approximately 40 distribution centers. It serves metropolitan areas in the United States and delivers building products to a range of wholesale and retail customers.

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