BlueLinx (NYSE:BXC) Stock Price Down 4.7% – Here’s Why

BlueLinx Holdings Inc. (NYSE:BXC) fell 4.7% during trading on Monday . The company traded as low as $64.01 and last traded at $63.75. 35,185 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 80,831 shares. The stock had previously closed at $66.92.

Analysts Set New Price Targets

A number of research firms recently commented on BXC. Wall Street Zen raised BlueLinx from a “sell” rating to a “hold” rating in a report on Friday. DA Davidson lowered their price target on BlueLinx from $119.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Loop Capital lowered their price target on BlueLinx from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Benchmark lowered their price target on BlueLinx from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

BlueLinx Stock Down 4.0%

The firm has a market capitalization of $515.45 million, a PE ratio of 10.43 and a beta of 1.99. The company has a fifty day moving average price of $70.64 and a 200-day moving average price of $91.74. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85.

Institutional Trading of BlueLinx

Several hedge funds and other institutional investors have recently bought and sold shares of BXC. Barclays PLC raised its holdings in BlueLinx by 32.0% during the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company’s stock valued at $4,767,000 after buying an additional 10,966 shares during the period. Bailard Inc. purchased a new stake in BlueLinx during the 4th quarter valued at $245,000. Steward Partners Investment Advisory LLC raised its holdings in BlueLinx by 11.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company’s stock valued at $351,000 after buying an additional 344 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in BlueLinx by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company’s stock valued at $20,419,000 after buying an additional 32,693 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in BlueLinx during the 4th quarter valued at $3,451,000. Hedge funds and other institutional investors 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.