BlueLinx (NYSE:BXC) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of BlueLinx (NYSE:BXC) from a buy rating to a hold rating in a report published on Thursday morning.

Separately, DA Davidson decreased their price target on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.67.

BlueLinx Stock Performance

Shares of BlueLinx stock opened at $89.96 on Thursday. The company has a current ratio of 4.58, a quick ratio of 3.26 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $105.45 and a two-hundred day moving average price of $107.64. BlueLinx has a 1-year low of $86.21 and a 1-year high of $134.79. The company has a market cap of $753.82 million, a P/E ratio of 14.65 and a beta of 2.04.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BlueLinx had a return on equity of 7.48% and a net margin of 1.80%. The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million.

Institutional Trading of BlueLinx

Several large investors have recently made changes to their positions in BXC. Harbor Capital Advisors Inc. grew its stake in shares of BlueLinx by 151.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock valued at $14,463,000 after buying an additional 82,657 shares during the period. Summit Global Investments boosted its stake in BlueLinx by 24.7% during the 3rd quarter. Summit Global Investments now owns 11,545 shares of the construction company’s stock valued at $1,217,000 after purchasing an additional 2,289 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in BlueLinx during the 3rd quarter valued at about $551,000. Victory Capital Management Inc. boosted its stake in BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after purchasing an additional 187,456 shares during the last quarter. Finally, MQS Management LLC acquired a new position in BlueLinx during the 3rd quarter valued at about $355,000. 90.83% of the stock is currently 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.