BlueLinx (NYSE:BXC) Reaches New 52-Week Low Following Analyst Downgrade

BlueLinx Holdings Inc. (NYSE:BXC)’s share price reached a new 52-week low during trading on Thursday after Loop Capital lowered their price target on the stock from $135.00 to $120.00. Loop Capital currently has a buy rating on the stock. BlueLinx traded as low as $86.21 and last traded at $92.06, with a volume of 198716 shares. The stock had previously closed at $99.70.

Several other research analysts have also recently issued reports on BXC. Benchmark cut their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, DA Davidson lowered their target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Institutional Trading of BlueLinx

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in BlueLinx by 59.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 377 shares of the construction company’s stock worth $40,000 after buying an additional 140 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of BlueLinx in the 4th quarter worth about $61,000. Quest Partners LLC raised its holdings in shares of BlueLinx by 43.2% in the 3rd quarter. Quest Partners LLC now owns 1,133 shares of the construction company’s stock worth $119,000 after purchasing an additional 342 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of BlueLinx by 50.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,135 shares of the construction company’s stock worth $120,000 after purchasing an additional 379 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company’s stock worth $149,000 after purchasing an additional 322 shares during the period. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Trading Down 8.7 %

The business has a fifty day moving average price of $104.09 and a 200 day moving average price of $107.39. The company has a market capitalization of $683.48 million, a PE ratio of 13.42 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

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.