BlueLinx (NYSE:BXC) Sees Strong Trading Volume - What's Next?

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 94,757 shares were traded during mid-day trading, an increase of 16% from the previous session's volume of 81,673 shares.The stock last traded at $73.31 and had previously closed at $74.61.

Wall Street Analyst Weigh In

BXC has been the subject of a number of recent research reports. Benchmark lowered their target price on BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, May 2nd. DA Davidson reduced their price target on BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Loop Capital reduced their price target on BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded BlueLinx from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Price Performance

The business has a 50-day simple moving average of $69.11 and a 200 day simple moving average of $84.21. The stock has a market cap of $595.96 million, a P/E ratio of 20.18 and a beta of 1.91. The company has a current ratio of 4.16, a quick ratio of 2.73 and a debt-to-equity ratio of 0.94.

Institutional Investors Weigh In On BlueLinx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of BlueLinx during the 1st quarter valued at about $59,497,000. Dimensional Fund Advisors LP boosted its holdings in BlueLinx by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 579,636 shares of the construction company's stock worth $59,216,000 after acquiring an additional 1,889 shares in the last quarter. American Century Companies Inc. boosted its holdings in BlueLinx by 3.1% in the first quarter. American Century Companies Inc. now owns 321,375 shares of the construction company's stock worth $24,097,000 after acquiring an additional 9,808 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in BlueLinx by 19.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 239,037 shares of the construction company's stock worth $17,923,000 after acquiring an additional 39,166 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in BlueLinx by 0.7% in the first quarter. Bridgeway Capital Management LLC now owns 146,879 shares of the construction company's stock worth $11,013,000 after acquiring an additional 968 shares in the last quarter. Institutional investors 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.