Wall Street Zen Downgrades BlueLinx (NYSE:BXC) to Sell

BlueLinx (NYSE:BXC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Several other equities research analysts have also recently commented on the company. Loop Capital cut their price target on BlueLinx from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Benchmark cut their price target on BlueLinx from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, DA Davidson cut BlueLinx from a "buy" rating to a "neutral" rating and set a $80.00 price target for the company. in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.00.

BlueLinx Price Performance

Shares of BlueLinx stock traded down $8.22 during mid-day trading on Friday, reaching $74.15. 166,571 shares of the stock traded hands, compared to its average volume of 83,449. The business has a 50-day moving average of $73.13 and a 200 day moving average of $81.57. BlueLinx has a fifty-two week low of $63.14 and a fifty-two week high of $134.79. The stock has a market capitalization of $594.68 million, a PE ratio of 16.55 and a beta of 1.90. 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

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its stake in shares of BlueLinx by 33.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 504 shares of the construction company's stock valued at $51,000 after buying an additional 127 shares in the last quarter. CWM LLC grew its stake in shares of BlueLinx by 92.8% in the first quarter. CWM LLC now owns 696 shares of the construction company's stock valued at $52,000 after buying an additional 335 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of BlueLinx in the fourth quarter valued at $61,000. Tower Research Capital LLC TRC grew its stake in shares of BlueLinx by 352.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,469 shares of the construction company's stock valued at $150,000 after buying an additional 1,144 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of BlueLinx in the first quarter valued at $153,000. 90.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

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