BlueLinx (NYSE:BXC) Rating Lowered 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 morning, Marketbeat reports. They currently have $80.00 price objective on the construction company's stock.

A number of other research firms have also weighed in on BXC. Wall Street Zen upgraded shares of BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital lowered their target price 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. Finally, Benchmark cut their price target on BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BlueLinx currently has an average rating of "Hold" and a consensus price target of $110.00.

BlueLinx Stock Up 0.1%

NYSE:BXC traded up $0.07 during midday trading on Friday, reaching $74.08. The company had a trading volume of 125,016 shares, compared to its average volume of 83,561. BlueLinx has a 12-month low of $63.14 and a 12-month high of $134.79. The firm has a market capitalization of $594.12 million, a price-to-earnings ratio of 16.54 and a beta of 1.90. The company has a current ratio of 4.16, a quick ratio of 2.73 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $73.13 and its 200-day simple moving average is $81.30.

Hedge Funds Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in 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 buying an additional 127 shares during the last quarter. CWM LLC boosted 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 acquiring an additional 335 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in BlueLinx during the fourth quarter worth approximately $61,000. Tower Research Capital LLC TRC increased its holdings in shares of BlueLinx by 352.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock worth $150,000 after buying an additional 1,144 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in BlueLinx during the 1st quarter worth approximately $153,000. 90.83% of the stock is currently 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.