BlueLinx (NYSE:BXC) Downgraded to Hold at StockNews.com

BlueLinx (NYSE:BXC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the company. Craig Hallum increased their price objective on BlueLinx from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson lifted their price target on BlueLinx from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.67.

BlueLinx Stock Up 2.6 %

Shares of NYSE BXC traded up $2.69 during mid-day trading on Friday, reaching $106.16. 94,942 shares of the company were exchanged, compared to its average volume of 84,236. The firm has a 50-day moving average of $101.59 and a 200 day moving average of $105.46. BlueLinx has a 1 year low of $67.76 and a 1 year high of $132.67. The company has a quick ratio of 3.37, a current ratio of 4.88 and a debt-to-equity ratio of 0.88. The stock has a market cap of $919.56 million, a price-to-earnings ratio of 19.92 and a beta of 1.94.

BlueLinx (NYSE:BXC) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.53 EPS for the quarter. BlueLinx had a return on equity of 12.14% and a net margin of 1.26%. The firm had revenue of $768.36 million during the quarter.

Institutional Trading of BlueLinx

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its holdings in BlueLinx by 13.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,666 shares of the construction company’s stock valued at $302,000 after buying an additional 311 shares during the last quarter. Mill Road Capital Management LLC grew its stake in BlueLinx by 4.9% in the 4th quarter. Mill Road Capital Management LLC now owns 124,274 shares of the construction company’s stock valued at $14,081,000 after acquiring an additional 5,800 shares during the last quarter. Bridgeway Capital Management LLC increased its position in BlueLinx by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 142,712 shares of the construction company’s stock worth $16,171,000 after buying an additional 3,264 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of BlueLinx in the fourth quarter valued at approximately $224,000. Finally, Virtu Financial LLC purchased a new stake in BlueLinx in the 4th quarter valued at about $217,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

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.