Shares of BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) shot up 6.7% during mid-day trading on Tuesday . The stock traded as high as $78.00 and last traded at $79.36. 15,287 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 81,999 shares. The stock had previously closed at $74.38.
Wall Street Analyst Weigh In
BXC has been the subject of several analyst reports. DA Davidson dropped their price objective on BlueLinx from $119.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital reduced their price objective on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Benchmark decreased their target price on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $110.00.
Check Out Our Latest Research Report on BXC
BlueLinx Stock Performance
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 company has a market cap of $674.72 million, a P/E ratio of 18.78 and a beta of 1.90. The company has a 50 day moving average price of $69.84 and a 200-day moving average price of $83.39.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of BXC. Bailard Inc. bought a new stake in shares of BlueLinx during the 4th quarter valued at approximately $245,000. Steward Partners Investment Advisory LLC lifted its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in BlueLinx by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock valued at $20,419,000 after buying an additional 32,693 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in BlueLinx in the fourth quarter valued at approximately $3,451,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of BlueLinx during the fourth quarter worth $61,000. Institutional investors and hedge funds own 90.83% of the company's stock.
BlueLinx Company Profile
(
Get Free Report)
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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