BlueLinx (NYSE:BXC) Hits New 1-Year Low - Here's Why

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $73.01 and last traded at $74.96, with a volume of 67502 shares trading hands. The stock had previously closed at $77.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BXC shares. Benchmark lowered their price objective on shares of BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. 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 note on Thursday, February 20th. Loop Capital reduced their price objective on BlueLinx from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, StockNews.com lowered BlueLinx from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85. The firm has a market cap of $652.22 million, a PE ratio of 12.81 and a beta of 2.18. The stock has a 50 day simple moving average of $98.25 and a two-hundred day simple moving average of $106.24.

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BlueLinx (NYSE:BXC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company 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%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of BlueLinx by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company's stock valued at $474,000 after acquiring an additional 104 shares during the period. Public Employees Retirement System of Ohio grew its holdings in BlueLinx by 33.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock valued at $51,000 after purchasing an additional 127 shares during the period. FMR LLC grew its holdings in BlueLinx by 10.5% in the third quarter. FMR LLC now owns 1,545 shares of the construction company's stock valued at $163,000 after purchasing an additional 147 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of BlueLinx by 2.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,101 shares of the construction company's stock worth $959,000 after buying an additional 190 shares during the period. Finally, Hunter Perkins Capital Management LLC lifted its position in shares of BlueLinx by 4.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 5,225 shares of the construction company's stock valued at $534,000 after buying an additional 200 shares in the last quarter. 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.