In a report released today, Alex Rygiel from B.Riley FBR maintained a Buy rating on Bluelinx Holdings (BXC), with a price target of $9.00. The company’s shares closed last Monday at $5.16, close to its 52-week low of $4.60.
According to TipRanks.com, Rygiel is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.9% and a 43.4% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction, Quanta Services, and Tutor Perini.
Currently, the analyst consensus on Bluelinx Holdings is a Moderate Buy with an average price target of $9.00.
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Based on Bluelinx Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.2 million. In comparison, last year the company had a GAAP net loss of $16.17 million.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BXC in relation to earlier this year.
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BlueLinx Holdings, Inc. engages in the distribution of building and industrial products. Its products include two principal categories: structural and specialty.
