BlueLinx (NYSE:BXC) Stock Rating Lowered by StockNews.com

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

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

BlueLinx Price Performance

BXC stock opened at $106.18 on Friday. The company has a market capitalization of $919.73 million, a P/E ratio of 19.92 and a beta of 1.94. BlueLinx has a twelve month low of $67.76 and a twelve month high of $132.67. The business has a 50 day simple moving average of $101.59 and a 200-day simple moving average of $105.35. The company has a current ratio of 4.88, a quick ratio of 3.37 and a debt-to-equity ratio of 0.88.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. nVerses Capital LLC raised its position in BlueLinx by 200.0% in the second quarter. nVerses Capital LLC now owns 300 shares of the construction company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of BlueLinx in the second quarter valued at $39,000. Allspring Global Investments Holdings LLC increased its position in shares of BlueLinx by 305.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 564 shares of the construction company’s stock valued at $73,000 after buying an additional 425 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of BlueLinx in the second quarter valued at $70,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of BlueLinx in the first quarter valued at $218,000. Hedge funds and other institutional investors own 90.83% of the company’s stock.

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.