BlueLinx (NYSE:BXC) Reaches New 52-Week Low - What's Next?

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as $80.21 and last traded at $81.38, with a volume of 14264 shares traded. The stock had previously closed at $84.00.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Benchmark reduced 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 reduced their price target on shares of BlueLinx from $137.00 to $119.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. StockNews.com cut BlueLinx from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Loop Capital dropped 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Trading Down 2.0 %

The business's 50-day simple moving average is $100.60 and its 200-day simple moving average is $106.93. The company has a market cap of $645.31 million, a price-to-earnings ratio of 12.67 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.85 and a quick ratio of 3.26.

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BlueLinx (NYSE:BXC - Get Free Report) last posted its 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 analysts' expectations of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Institutional Trading of BlueLinx

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its holdings in BlueLinx by 151.6% in 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 raised its position in shares of BlueLinx by 24.7% in the third quarter. Summit Global Investments now owns 11,545 shares of the construction company's stock valued at $1,217,000 after buying an additional 2,289 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of BlueLinx during the third quarter valued at approximately $551,000. Victory Capital Management Inc. boosted its position in BlueLinx by 600.3% during the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company's stock worth $23,054,000 after acquiring an additional 187,456 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in BlueLinx during the third quarter worth approximately $355,000. 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.