BlueLinx (NYSE:BXC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of BlueLinx (NYSE:BXC - Free Report) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other research analysts also recently weighed in on the company. Loop Capital decreased their price target on 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 target price on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, DA Davidson dropped their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, BlueLinx presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Stock Down 3.4%

Shares of BXC stock traded down $2.28 on Friday, hitting $64.64. 113,146 shares of the stock were exchanged, compared to its average volume of 81,129. The company has a current ratio of 4.85, a quick ratio of 3.26 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $518.54 million, a P/E ratio of 10.53 and a beta of 1.99. BlueLinx has a fifty-two week low of $63.06 and a fifty-two week high of $134.79. The business has a 50-day moving average of $70.64 and a 200 day moving average of $91.74.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently modified their holdings of BXC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in BlueLinx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,643 shares of the construction company's stock valued at $474,000 after acquiring an additional 104 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in BlueLinx by 33.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock valued at $51,000 after acquiring an additional 127 shares during the period. Sterling Capital Management LLC raised its position in BlueLinx by 4.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,556 shares of the construction company's stock worth $568,000 after purchasing an additional 230 shares during the last quarter. Invesco Ltd. lifted its stake in shares of BlueLinx by 2.8% in the fourth quarter. Invesco Ltd. now owns 10,947 shares of the construction company's stock worth $1,118,000 after acquiring an additional 295 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of BlueLinx by 4.3% in the first quarter. Royal Bank of Canada now owns 7,870 shares of the construction company's stock worth $590,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 90.83% of the company's stock.

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.