BlueLinx (NYSE:BXC) Sees Large Volume Increase - What's Next?

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 107,120 shares traded hands during trading, an increase of 18% from the previous session's volume of 90,678 shares.The stock last traded at $84.96 and had previously closed at $86.30.

Analyst Upgrades and Downgrades

BXC has been the subject of several research reports. DA Davidson lowered their price objective on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Loop Capital lowered their price objective 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 lowered their price objective 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, 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 hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Stock Down 1.4%

The company has a market capitalization of $682.67 million, a price-to-earnings ratio of 19.06 and a beta of 1.90. The business's 50-day moving average is $71.34 and its 200-day moving average is $82.54. The company has a quick ratio of 2.73, a current ratio of 4.16 and a debt-to-equity ratio of 0.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BXC. Steward Partners Investment Advisory LLC increased its stake in shares of BlueLinx by 11.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock valued at $351,000 after purchasing an additional 344 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of BlueLinx by 19.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock valued at $20,419,000 after purchasing an additional 32,693 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of BlueLinx in the 4th quarter valued at about $3,451,000. PNC Financial Services Group Inc. purchased a new position in shares of BlueLinx in the 4th quarter valued at about $61,000. Finally, AlphaQuest LLC increased its stake in shares of BlueLinx by 28.4% in the 4th quarter. AlphaQuest LLC now owns 1,455 shares of the construction company's stock valued at $149,000 after purchasing an additional 322 shares in the last quarter. 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.

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