BlueLinx (NYSE:BXC) Trading Down 4.9%

BlueLinx Holdings Inc. (NYSE:BXC)’s stock price was down 4.9% during mid-day trading on Monday . The stock traded as low as $88.34 and last traded at $88.49. Approximately 29,409 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 78,574 shares. The stock had previously closed at $93.09.

Analysts Set New Price Targets

BXC has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of BlueLinx in a research report on Wednesday, May 29th. Craig Hallum dropped their price objective on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd.

BlueLinx Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 4.71 and a quick ratio of 3.22. The firm has a market capitalization of $778.71 million, a P/E ratio of 16.87 and a beta of 1.90. The business’s 50-day moving average is $101.12 and its 200 day moving average is $111.66.

BlueLinx (NYSE:BXC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter. BlueLinx had a return on equity of 14.11% and a net margin of 1.57%. The business had revenue of $726.24 million during the quarter.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in BlueLinx during the 3rd quarter worth $293,000. Qube Research & Technologies Ltd raised its position in BlueLinx by 0.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 37,549 shares of the construction company’s stock worth $3,082,000 after purchasing an additional 257 shares during the last quarter. Gotham Asset Management LLC acquired a new position in BlueLinx during the 3rd quarter worth about $324,000. Lazard Asset Management LLC grew its position in shares of BlueLinx by 8.0% in the 3rd quarter. Lazard Asset Management LLC now owns 18,196 shares of the construction company’s stock valued at $1,493,000 after buying an additional 1,344 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of BlueLinx in the third quarter valued at about $240,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

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.