BlueLinx (NYSE:BXC) Stock Price Breaks Below 50-Day Moving Average – Should You Sell?

BlueLinx Holdings Inc. (NYSE:BXC)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $76.14 and traded as low as $71.49. BlueLinx shares last traded at $72.6350, with a volume of 331,728 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BXC. Citizens Jmp assumed coverage on BlueLinx in a report on Thursday, September 24th. They issued a “market perform” rating on the stock. DA Davidson lifted their price objective on shares of BlueLinx from $65.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Citigroup began coverage on BlueLinx in a research note on Thursday, September 24th. They set a “market perform” rating for the company. Wall Street Zen upgraded shares of BlueLinx from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BlueLinx in a report on Monday, August 17th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.50.

BlueLinx Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 4.01 and a quick ratio of 2.59. The company has a 50 day moving average price of $76.14 and a 200 day moving average price of $65.02. The firm has a market cap of $570.91 million, a PE ratio of -290.53 and a beta of 1.47.

BlueLinx (NYSE:BXC) last posted its quarterly earnings data on Tuesday, November 3rd. The construction company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. BlueLinx had a negative net margin of 0.06% and a positive return on equity of 0.13%. The firm had revenue of $812.61 million for the quarter, compared to analyst estimates of $814.17 million. Sell-side analysts expect that BlueLinx Holdings Inc. will post 0.97 EPS for the current fiscal year.

Institutional Trading of BlueLinx

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of BlueLinx by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 512,594 shares of the construction company’s stock valued at $27,771,000 after acquiring an additional 2,008 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of BlueLinx by 2.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 321,874 shares of the construction company’s stock worth $17,439,000 after acquiring an additional 6,538 shares during the period. Empowered Funds LLC raised its holdings in BlueLinx by 42.7% during the first quarter. Empowered Funds LLC now owns 110,018 shares of the construction company’s stock worth $5,961,000 after purchasing an additional 32,943 shares in the last quarter. Heartland Advisors Inc. raised its holdings in BlueLinx by 22.8% during the first quarter. Heartland Advisors Inc. now owns 92,075 shares of the construction company’s stock worth $4,989,000 after purchasing an additional 17,075 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in BlueLinx by 92.1% during the first quarter. Sei Investments Co. now owns 59,592 shares of the construction company’s stock worth $3,229,000 after purchasing an additional 28,571 shares in the last quarter. Institutional investors and hedge funds own 90.83% of the company’s stock.

BlueLinx Company Profile

BlueLinx Holdings Inc is a specialty distributor of building products in the United States. The company supplies materials used in residential and commercial construction, repair and remodeling, and industrial applications.

Its product portfolio includes structural products such as lumber, plywood, oriented strand board and engineered wood, as well as specialty products including siding, insulation, roofing materials, gypsum wallboard, millwork and related building components. BlueLinx also provides services such as product sourcing, inventory management, job-site delivery and other supply-chain support.

BlueLinx serves professional contractors, specialty dealers, home improvement retailers, industrial manufacturers and producers of manufactured housing through a nationwide distribution network.