BlueLinx (NYSE:BXC) Trading Down 11%

BlueLinx Holdings Inc. (NYSE:BXCGet Rating)’s share price fell 11% during mid-day trading on Thursday . The company traded as low as $61.76 and last traded at $61.76. 2,861 shares were traded during mid-day trading, a decline of 98% from the average session volume of 162,746 shares. The stock had previously closed at $69.38.

Several research firms have issued reports on BXC. Benchmark upped their target price on shares of BlueLinx from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 24th. TheStreet raised shares of BlueLinx from a “c” rating to a “b-” rating in a report on Wednesday, May 4th. StockNews.com began coverage on BlueLinx in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Craig Hallum raised their price target on BlueLinx from $104.00 to $115.00 in a research report on Thursday, February 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $104.25.

The stock has a market cap of $587.11 million, a price-to-earnings ratio of 1.68 and a beta of 1.78. The stock has a fifty day moving average of $77.68 and a 200 day moving average of $80.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 3.47 and a quick ratio of 1.80.

BlueLinx (NYSE:BXCGet Rating) last announced its earnings results on Tuesday, May 3rd. The construction company reported $13.19 earnings per share for the quarter. BlueLinx had a return on equity of 107.29% and a net margin of 8.07%. The business had revenue of $1.30 billion during the quarter.

Several institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in BlueLinx during the 4th quarter worth about $30,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of BlueLinx in the 1st quarter valued at about $43,000. Covestor Ltd purchased a new position in BlueLinx during the 1st quarter worth approximately $50,000. Sandy Cove Advisors LLC purchased a new position in BlueLinx during the 4th quarter worth approximately $55,000. Finally, New York State Teachers Retirement System purchased a new position in BlueLinx during the 4th quarter worth approximately $77,000. 81.13% of the stock is currently owned by institutional investors and hedge funds.

About BlueLinx (NYSE:BXC)

BlueLinx Holdings Inc, together with its subsidiaries, distributes residential and commercial building products in the United States. The company distributes specialty products comprising engineered wood, industrial products, cedar, moulding, siding, metal, and insulation products; and structural products include lumber, plywood, oriented strand boards, rebars and remesh, spruce, and other wood products primarily that are used for structural support in construction projects.

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