BlueLinx (NYSE:BXC) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of BlueLinx (NYSE:BXC - Free Report) from a buy rating to a hold rating in a research note released on Thursday.

Separately, DA Davidson lowered their price objective on BlueLinx from $137.00 to $119.00 and set a "buy" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.50.

BlueLinx Stock Performance

BXC traded down $0.55 during midday trading on Thursday, reaching $81.98. The company had a trading volume of 104,538 shares, compared to its average volume of 67,592. BlueLinx has a 12-month low of $80.30 and a 12-month high of $134.79. The business has a 50-day moving average price of $104.09 and a two-hundred day moving average price of $107.54. The stock has a market cap of $679.58 million, a PE ratio of 13.35 and a beta of 2.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.26 and a current ratio of 4.85.

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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 for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $710.64 million for the quarter, compared to the consensus estimate 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in BlueLinx by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company's stock worth $59,216,000 after buying an additional 1,889 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of BlueLinx by 8.4% in the 4th quarter. American Century Companies Inc. now owns 311,567 shares of the construction company's stock valued at $31,830,000 after purchasing an additional 24,087 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of BlueLinx by 19.6% during the fourth 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 last quarter. Finally, State Street Corp lifted its stake in shares of BlueLinx by 0.6% in the 3rd quarter. State Street Corp now owns 198,003 shares of the construction company's stock valued at $20,873,000 after acquiring an additional 1,252 shares during the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

About BlueLinx

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.