StockNews.com Downgrades BlueLinx (NYSE:BXC) to Hold

BlueLinx (NYSE:BXC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, DA Davidson reduced their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, BlueLinx currently has an average rating of “Moderate Buy” and an average price target of $129.67.

BlueLinx Price Performance

Shares of NYSE BXC traded down $2.06 on Thursday, hitting $89.96. The company’s stock had a trading volume of 155,732 shares, compared to its average volume of 64,568. The stock has a 50 day moving average of $105.45 and a 200-day moving average of $107.64. The company has a market capitalization of $753.82 million, a price-to-earnings ratio of 14.65 and a beta of 2.04. BlueLinx has a 12-month low of $86.21 and a 12-month high of $134.79. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.58 and a quick ratio of 3.26.

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

Institutional Trading of BlueLinx

A number of institutional investors have recently added to or reduced their stakes in BXC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of BlueLinx by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company’s stock worth $474,000 after purchasing an additional 104 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of BlueLinx by 33.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock valued at $51,000 after buying an additional 127 shares during the period. FMR LLC lifted its position in BlueLinx by 10.5% during the 3rd quarter. FMR LLC now owns 1,545 shares of the construction company’s stock worth $163,000 after acquiring an additional 147 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in BlueLinx by 2.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company’s stock worth $959,000 after acquiring an additional 190 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its position in BlueLinx by 4.0% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company’s stock valued at $534,000 after acquiring an additional 200 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

BlueLinx Company Profile

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.