BlueLinx (NYSE:BXC) Given New $25.00 Price Target at B. Riley

BlueLinx (NYSE:BXC) had its price objective trimmed by B. Riley from $28.00 to $25.00 in a report published on Thursday morning, Stock Target Advisor reports. The firm currently has a buy rating on the construction company’s stock.

BXC has been the topic of a number of other research reports. TheStreet raised BlueLinx from a d+ rating to a c- rating in a research note on Wednesday, October 16th. ValuEngine raised BlueLinx from a hold rating to a buy rating in a research note on Wednesday.

Shares of BXC traded up $1.01 on Thursday, reaching $16.97. The stock had a trading volume of 408,341 shares, compared to its average volume of 138,143. The firm has a market capitalization of $290.31 million, a PE ratio of -4.69 and a beta of 1.77. The firm has a 50-day moving average of $31.06 and a 200 day moving average of $25.28. BlueLinx has a twelve month low of $13.48 and a twelve month high of $35.40.

BlueLinx (NYSE:BXC) last released its quarterly earnings results on Wednesday, August 7th. The construction company reported ($0.15) earnings per share for the quarter. The company had revenue of $706.45 million during the quarter. As a group, equities analysts anticipate that BlueLinx will post 0.59 EPS for the current year.

In related news, CEO Mitchell B. Lewis bought 11,900 shares of BlueLinx stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average price of $15.81 per share, with a total value of $188,139.00. Following the purchase, the chief executive officer now owns 160,912 shares in the company, valued at $2,544,018.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam K. Reddy purchased 5,500 shares of BlueLinx stock in a transaction on Thursday, November 7th. The shares were acquired at an average cost of $18.21 per share, for a total transaction of $100,155.00. Following the purchase, the insider now owns 20,803 shares in the company, valued at $378,822.63. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 18,600 shares of company stock worth $320,682. 5.07% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of BlueLinx during the 2nd quarter worth $25,000. Tower Research Capital LLC TRC lifted its stake in shares of BlueLinx by 771.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,891 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,674 shares during the period. Atria Investments LLC purchased a new position in shares of BlueLinx during the 2nd quarter worth $4,029,000. SG Americas Securities LLC purchased a new position in shares of BlueLinx during the 3rd quarter worth $151,000. Finally, California Public Employees Retirement System lifted its stake in shares of BlueLinx by 14.2% during the 3rd quarter. California Public Employees Retirement System now owns 12,040 shares of the construction company’s stock worth $389,000 after purchasing an additional 1,500 shares during the period. 90.08% of the stock is currently owned by institutional investors.

About BlueLinx

BlueLinx Holdings Inc, together with its subsidiaries, distributes building and industrial products in the United States. It distributes structural products, including plywood, oriented strand board, rebar and remesh, lumber, spruce, and other wood products primarily used for structural support, walls, and flooring in construction projects; and specialty products comprising engineered wood, moulding, siding, cedar, metal, and insulation products.

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