BlueLinx (NYSE:BXC) Cut to "Neutral" at DA Davidson

DA Davidson cut shares of BlueLinx (NYSE:BXC - Free Report) from a buy rating to a neutral rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has $80.00 price objective on the construction company's stock.

A number of other research firms also recently weighed in on BXC. Loop Capital dropped their price target on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Benchmark decreased their price target on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $110.00.

BlueLinx Stock Down 10.0%

Shares of BlueLinx stock traded down $8.22 during midday trading on Friday, reaching $74.15. 166,571 shares of the company's stock traded hands, compared to its average volume of 83,449. The company has a market cap of $594.68 million, a price-to-earnings ratio of 16.55 and a beta of 1.90. The company's 50 day simple moving average is $73.13 and its 200 day simple moving average is $81.57. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.73 and a current ratio of 4.16. BlueLinx has a 52 week low of $63.14 and a 52 week high of $134.79.

Institutional Investors Weigh In On BlueLinx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of BlueLinx by 33.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock valued at $51,000 after purchasing an additional 127 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of BlueLinx in the fourth quarter worth approximately $61,000. CWM LLC increased its position in shares of BlueLinx by 92.8% in the first quarter. CWM LLC now owns 696 shares of the construction company's stock worth $52,000 after purchasing an additional 335 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of BlueLinx by 352.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock worth $150,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of BlueLinx in the first quarter worth approximately $153,000. 90.83% of the stock is currently owned by 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.