BlueLinx (NYSE:BXC) Stock Price Up 8.5%

BlueLinx Holdings Inc. (NYSE:BXC) traded up 8.5% during mid-day trading on Tuesday . The company traded as high as $107.97 and last traded at $107.76. 39,829 shares were traded during trading, a decline of 50% from the average session volume of 79,378 shares. The stock had previously closed at $99.32.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Craig Hallum lowered their target price on shares of BlueLinx from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of BlueLinx in a research note on Wednesday, May 29th.

BlueLinx Stock Performance

The company’s 50 day moving average price is $98.53 and its 200-day moving average price is $110.30. The stock has a market cap of $1.01 billion, a P/E ratio of 22.05 and a beta of 1.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.22 and a current ratio of 4.71.

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

Institutional Trading of BlueLinx

A number of hedge funds have recently bought and sold shares of BXC. Allspring Global Investments Holdings LLC raised its position in BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock worth $73,000 after acquiring an additional 425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BlueLinx by 19.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,410 shares of the construction company’s stock worth $160,000 after purchasing an additional 230 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in BlueLinx in the fourth quarter valued at approximately $205,000. Virtu Financial LLC bought a new position in BlueLinx during the fourth quarter valued at $217,000. Finally, Capstone Investment Advisors LLC purchased a new stake in BlueLinx in the first quarter worth $218,000. 90.83% of the stock is currently owned by 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.