BlueLinx (NYSE:BXC) Hits New 52-Week Low – Should You Sell?

BlueLinx Holdings Inc. (NYSE:BXC) shares hit a new 52-week low during trading on Thursday . The company traded as low as $80.21 and last traded at $81.38, with a volume of 14264 shares trading hands. The stock had previously closed at $84.00.

Analyst Ratings Changes

A number of research analysts recently commented on BXC shares. Benchmark reduced their price target on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. DA Davidson dropped their price target on BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Loop Capital lowered their target price on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

BlueLinx Trading Down 2.2 %

The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $658.34 million, a price-to-earnings ratio of 12.93 and a beta of 2.04. The firm has a 50-day moving average of $101.16 and a 200 day moving average of $106.92.

BlueLinx (NYSE:BXC) last posted its earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Hedge Funds Weigh In On BlueLinx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Harbor Capital Advisors Inc. boosted its stake in BlueLinx by 151.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock valued at $14,463,000 after purchasing an additional 82,657 shares in the last quarter. Summit Global Investments boosted its stake in BlueLinx by 24.7% during the 3rd quarter. Summit Global Investments now owns 11,545 shares of the construction company’s stock valued at $1,217,000 after purchasing an additional 2,289 shares in the last quarter. CWA Asset Management Group LLC bought a new position in BlueLinx during the 3rd quarter valued at $551,000. Victory Capital Management Inc. boosted its stake in BlueLinx by 600.3% during the 3rd quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock valued at $23,054,000 after purchasing an additional 187,456 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of BlueLinx during the 3rd quarter worth $355,000. 90.83% of the stock is owned by institutional investors.

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.