BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $74.29 and traded as high as $75.00. BlueLinx shares last traded at $72.84, with a volume of 55,400 shares traded.
Analyst Upgrades and Downgrades
Several research analysts recently commented on BXC shares. DA Davidson set a $75.00 target price on BlueLinx and gave the stock a "neutral" rating in a research note on Monday, August 4th. Weiss Ratings reissued a "sell (d+)" rating on shares of BlueLinx in a research note on Wednesday, October 8th. Benchmark lowered their price objective on BlueLinx from $110.00 to $83.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded BlueLinx from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BlueLinx has a consensus rating of "Hold" and a consensus price target of $91.00.
Get Our Latest Report on BXC
BlueLinx Trading Down 0.9%
The company has a 50-day moving average price of $77.43 and a 200-day moving average price of $74.29. The firm has a market capitalization of $574.72 million, a price-to-earnings ratio of 21.61 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.94 and a current ratio of 4.55.
BlueLinx announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Institutional Trading of BlueLinx
A number of large investors have recently bought and sold shares of BXC. CWM LLC boosted its stake in shares of BlueLinx by 92.8% during the first quarter. CWM LLC now owns 696 shares of the construction company's stock worth $52,000 after buying an additional 335 shares during the period. Tower Research Capital LLC TRC lifted its position in BlueLinx by 114.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 792 shares of the construction company's stock worth $59,000 after acquiring an additional 422 shares during the period. PNC Financial Services Group Inc. lifted its position in BlueLinx by 169.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,618 shares of the construction company's stock worth $121,000 after acquiring an additional 1,018 shares during the period. Quantbot Technologies LP acquired a new stake in BlueLinx during the 1st quarter worth approximately $153,000. Finally, Exchange Traded Concepts LLC lifted its position in BlueLinx by 14.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,113 shares of the construction company's stock worth $233,000 after acquiring an additional 404 shares during the period. Institutional investors and hedge funds own 90.83% of the company's stock.
BlueLinx Company Profile
(
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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.
Further Reading
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