BlueLinx (NYSE:BXC) Downgraded by StockNews.com to “Hold”

BlueLinx (NYSE:BXC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, DA Davidson reduced their price objective on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlueLinx currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.67.

BlueLinx Stock Performance

BXC stock traded down $2.06 during midday trading on Thursday, reaching $89.96. The company had a trading volume of 155,732 shares, compared to its average volume of 64,568. The company has a quick ratio of 3.26, a current ratio of 4.58 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $105.45 and a 200 day moving average price of $107.64. The firm has a market capitalization of $753.82 million, a PE ratio of 14.65 and a beta of 2.04. BlueLinx has a fifty-two week low of $86.21 and a fifty-two week high of $134.79.

BlueLinx (NYSE:BXC) 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 the consensus estimate of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.48%.

Institutional Investors Weigh In On BlueLinx

Several hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in shares of BlueLinx by 146.0% in the 4th quarter. Mackenzie Financial Corp now owns 5,593 shares of the construction company’s stock valued at $571,000 after purchasing an additional 3,319 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of BlueLinx by 33.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company’s stock worth $51,000 after acquiring an additional 127 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in BlueLinx by 31.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,705 shares of the construction company’s stock valued at $1,911,000 after purchasing an additional 4,525 shares during the last quarter. Towle & Co. grew its stake in BlueLinx by 7.2% in the fourth quarter. Towle & Co. now owns 120,972 shares of the construction company’s stock valued at $12,358,000 after purchasing an additional 8,123 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of BlueLinx during the 4th quarter valued at about $235,000. 90.83% of the stock is owned by hedge funds and other 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.