BlueLinx (NYSE:BXC) Trading Down 7.4% - Time to Sell?

BlueLinx Holdings Inc. (NYSE:BXC - Get Free Report)'s stock price was down 7.4% during trading on Friday . The stock traded as low as $78.49 and last traded at $76.26. Approximately 10,575 shares were traded during trading, a decline of 87% from the average daily volume of 83,709 shares. The stock had previously closed at $82.37.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BXC shares. DA Davidson cut shares of BlueLinx from a "buy" rating to a "neutral" rating and set a $80.00 price target for the company. in a research report on Friday. Benchmark lowered their price target on shares of BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Loop Capital lowered their price target on shares of BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of BlueLinx from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

BlueLinx Stock Performance

The stock has a market cap of $593.76 million, a price-to-earnings ratio of 16.48 and a beta of 1.90. The stock's fifty day moving average is $73.01 and its 200-day moving average is $81.77. 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

Institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in shares of BlueLinx by 14.9% during the first 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. Intech Investment Management LLC raised its holdings in shares of BlueLinx by 48.1% during the fourth quarter. Intech Investment Management LLC now owns 2,813 shares of the construction company's stock worth $287,000 after acquiring an additional 914 shares during the period. GAMMA Investing LLC raised its holdings in shares of BlueLinx by 42,890.0% during the first quarter. GAMMA Investing LLC now owns 12,897 shares of the construction company's stock worth $967,000 after acquiring an additional 12,867 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of BlueLinx in the fourth quarter worth $61,000. Finally, SG Americas Securities LLC lifted its position in shares of BlueLinx by 63.7% in the first quarter. SG Americas Securities LLC now owns 3,992 shares of the construction company's stock worth $299,000 after purchasing an additional 1,554 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.