BlueLinx (NYSE:BXC) Stock Price Down 4.7% - What's Next?

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report) traded down 4.7% on Monday . The company traded as low as $64.01 and last traded at $63.75. 35,185 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 80,831 shares. The stock had previously closed at $66.92.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded BlueLinx from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Loop Capital lowered their price target on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Benchmark lowered their price target 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. Finally, DA Davidson lowered their price target on shares of BlueLinx from $119.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.00.

BlueLinx Price Performance

The business's fifty day simple moving average is $69.90 and its 200-day simple moving average is $91.03. 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 cap of $543.49 million, a P/E ratio of 11.03 and a beta of 1.91.

Institutional Investors Weigh In On BlueLinx

A number of hedge funds and other institutional investors have recently bought and sold shares of BXC. Barclays PLC raised its holdings in BlueLinx by 32.0% during the 3rd quarter. Barclays PLC now owns 45,229 shares of the construction company's stock valued at $4,767,000 after acquiring an additional 10,966 shares during the period. Bailard Inc. bought a new position in shares of BlueLinx in the fourth quarter worth $245,000. Steward Partners Investment Advisory LLC increased its holdings in shares of BlueLinx by 11.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,433 shares of the construction company's stock worth $351,000 after purchasing an additional 344 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of BlueLinx by 19.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 199,871 shares of the construction company's stock worth $20,419,000 after purchasing an additional 32,693 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of BlueLinx in the fourth quarter worth $3,451,000. Institutional investors own 90.83% of the company's stock.

About BlueLinx

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.