BlueLinx (NYSE:BXC) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of BlueLinx (NYSE:BXC) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Several other research analysts have also recently commented on BXC. DA Davidson cut BlueLinx from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Friday. Loop Capital reduced their price target on BlueLinx from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Benchmark dropped their price objective on BlueLinx from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $110.00.

BlueLinx Trading Down 10.0%

NYSE:BXC traded down $8.22 on Friday, reaching $74.15. The company’s stock had a trading volume of 166,571 shares, compared to its average volume of 83,449. BlueLinx has a 1-year low of $63.14 and a 1-year high of $134.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.73 and a current ratio of 4.16. The firm has a market cap of $594.68 million, a PE ratio of 16.55 and a beta of 1.90. The business’s 50-day moving average price is $73.13 and its two-hundred day moving average price is $81.57.

Institutional Investors Weigh In On BlueLinx

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of BlueLinx in the fourth quarter valued at about $3,451,000. PNC Financial Services Group Inc. bought a new position in shares of BlueLinx in the 4th quarter worth about $61,000. HighTower Advisors LLC bought a new position in shares of BlueLinx in the 4th quarter worth about $1,055,000. Intech Investment Management LLC raised its position in shares of BlueLinx by 48.1% in the 4th quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company’s stock worth $287,000 after acquiring an additional 914 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of BlueLinx by 98.1% in the 4th quarter. Teacher Retirement System of Texas now owns 21,922 shares of the construction company’s stock worth $2,240,000 after acquiring an additional 10,854 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

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.