BlueLinx (NYSE:BXC) Sees Strong Trading Volume

Shares of BlueLinx Holdings Inc. (NYSE:BXCGet Rating) saw unusually-high trading volume on Tuesday . Approximately 11,689 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 184,015 shares.The stock last traded at $65.15 and had previously closed at $63.97.

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

The business’s 50-day moving average price is $77.73 and its 200-day moving average price is $80.11. The company has a current ratio of 3.47, a quick ratio of 1.80 and a debt-to-equity ratio of 1.13. The stock has a market cap of $622.78 million, a PE ratio of 1.74 and a beta of 1.78.

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

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

BlueLinx Company Profile (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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