BlueLinx (NYSE:BXC) Reaches New 12-Month Low – Here’s What Happened

BlueLinx Holdings Inc. (NYSE:BXC) shares hit a new 52-week low during trading on Friday . The company traded as low as $68.10 and last traded at $68.68, with a volume of 641 shares. The stock had previously closed at $72.04.

Analyst Upgrades and Downgrades

BXC has been the topic of a number of recent research reports. Loop Capital decreased their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 21st. StockNews.com cut BlueLinx from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Benchmark cut their price objective on BlueLinx from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, DA Davidson lowered their target price on shares of BlueLinx from $137.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

BlueLinx Price Performance

The stock has a fifty day moving average of $88.33 and a two-hundred day moving average of $103.54. 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 stock has a market capitalization of $603.35 million, a price-to-earnings ratio of 11.85 and a beta of 1.82.

BlueLinx (NYSE:BXC) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $710.64 million during the quarter, compared to analyst estimates of $700.66 million. BlueLinx had a net margin of 1.80% and a return on equity of 7.50%.

Hedge Funds Weigh In On BlueLinx

Institutional investors have recently modified their holdings of the stock. River Road Asset Management LLC bought a new stake in shares of BlueLinx during the fourth quarter valued at approximately $7,541,000. Charles Schwab Investment Management Inc. boosted its position in BlueLinx by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,178 shares of the construction company’s stock valued at $17,624,000 after buying an additional 36,968 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BlueLinx in the 4th quarter valued at $3,451,000. Portolan Capital Management LLC increased its stake in shares of BlueLinx by 764.6% in the 4th quarter. Portolan Capital Management LLC now owns 35,061 shares of the construction company’s stock valued at $3,582,000 after buying an additional 31,006 shares during the period. Finally, American Century Companies Inc. raised its position in shares of BlueLinx by 8.4% during the fourth quarter. American Century Companies Inc. now owns 311,567 shares of the construction company’s stock worth $31,830,000 after acquiring an additional 24,087 shares during the last quarter. 90.83% of the stock is owned by institutional investors.

BlueLinx Company Profile

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.