BlueLinx (NYSE:BXC) Reaches New 1-Year Low – Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $80.21 and last traded at $81.38, with a volume of 14264 shares changing hands. The stock had previously closed at $84.00.

Analyst Upgrades and Downgrades

Several research firms recently commented on BXC. StockNews.com lowered BlueLinx from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Loop Capital dropped their target price on 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 target price on BlueLinx from $137.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark dropped their target price 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

BlueLinx Price Performance

The company has a market capitalization of $658.34 million, a price-to-earnings ratio of 12.93 and a beta of 2.04. The company has a quick ratio of 3.26, a current ratio of 4.85 and a debt-to-equity ratio of 0.89. The company has a 50 day simple moving average of $101.16 and a 200 day simple moving average of $106.92.

BlueLinx (NYSE:BXC) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a return on equity of 7.50% and a net margin of 1.80%.

Institutional Investors Weigh In On BlueLinx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in shares of BlueLinx by 151.6% in the third quarter. Harbor Capital Advisors Inc. now owns 137,193 shares of the construction company’s stock worth $14,463,000 after buying an additional 82,657 shares during the period. Summit Global Investments boosted 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 worth $1,217,000 after buying an additional 2,289 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of BlueLinx in the third quarter worth about $551,000. Victory Capital Management Inc. boosted its position in shares of BlueLinx by 600.3% in the third quarter. Victory Capital Management Inc. now owns 218,685 shares of the construction company’s stock worth $23,054,000 after buying an additional 187,456 shares during the period. Finally, MQS Management LLC purchased a new stake in shares of BlueLinx in the third quarter worth about $355,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

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.