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

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

Other equities research analysts have also recently issued reports about the stock. Craig Hallum boosted their price target on shares of BlueLinx from $125.00 to $135.00 and gave the stock a buy rating in a research report on Thursday. Benchmark reiterated a buy rating and issued a $135.00 target price on shares of BlueLinx in a report on Wednesday, May 29th. Finally, DA Davidson raised their target price on shares of BlueLinx from $121.00 to $137.00 and gave the stock a buy rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, BlueLinx currently has an average rating of Moderate Buy and a consensus price target of $135.67.

BlueLinx Price Performance

NYSE BXC opened at $103.78 on Thursday. The firm has a market capitalization of $898.94 million, a PE ratio of 19.47 and a beta of 1.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.88 and a quick ratio of 3.22. BlueLinx has a 12 month low of $67.76 and a 12 month high of $132.67. The company’s 50 day simple moving average is $101.79 and its 200 day simple moving average is $110.83.

Institutional Trading of BlueLinx

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of BlueLinx by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 554,458 shares of the construction company’s stock valued at $62,828,000 after acquiring an additional 17,891 shares during the period. Lord Abbett & CO. LLC purchased a new position in BlueLinx during the 1st quarter worth approximately $4,195,000. GSA Capital Partners LLP purchased a new position in BlueLinx during the 1st quarter worth approximately $1,501,000. SG Americas Securities LLC acquired a new stake in BlueLinx during the 1st quarter valued at $1,076,000. Finally, Empowered Funds LLC lifted its holdings in shares of BlueLinx by 70.9% in the first quarter. Empowered Funds LLC now owns 62,627 shares of the construction company’s stock valued at $8,157,000 after purchasing an additional 25,972 shares in the last quarter. 90.83% of the stock is 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.